International Paper (NYSE:IP) Shares Bought by NewSquare Capital LLC

NewSquare Capital LLC grew its holdings in International Paper (NYSE:IP) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,709 shares of the basic materials company’s stock after acquiring an additional 3,671 shares during the period. NewSquare Capital LLC’s holdings in International Paper were worth $6,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IP. CWM LLC raised its position in International Paper by 61.9% during the third quarter. CWM LLC now owns 14,569 shares of the basic materials company’s stock valued at $517,000 after acquiring an additional 5,569 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of International Paper by 20.7% during the 3rd quarter. Global Retirement Partners LLC now owns 8,055 shares of the basic materials company’s stock worth $285,000 after buying an additional 1,384 shares during the period. Exchange Traded Concepts LLC lifted its holdings in International Paper by 421.1% during the third quarter. Exchange Traded Concepts LLC now owns 9,963 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 8,051 shares in the last quarter. Occidental Asset Management LLC lifted its stake in International Paper by 2.7% in the 3rd quarter. Occidental Asset Management LLC now owns 35,676 shares of the basic materials company’s stock valued at $1,265,000 after buying an additional 933 shares in the last quarter. Finally, Welch Group LLC purchased a new stake in shares of International Paper during the third quarter worth approximately $206,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their price objective for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Wells Fargo & Company dropped their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Finally, StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.13.

International Paper Stock Performance

NYSE IP traded down $0.35 during trading on Tuesday, reaching $34.41. The company’s stock had a trading volume of 6,731,920 shares, compared to its average volume of 4,842,995. The business’s fifty day moving average price is $36.72 and its 200-day moving average price is $35.84. International Paper has a twelve month low of $29.00 and a twelve month high of $41.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts anticipate that International Paper will post 1.91 EPS for the current fiscal year.

Insider Transactions at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 8,800 shares of company stock worth $310,438 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.