Cherry Tree Wealth Management LLC Sells 1,000 Shares of International Paper (NYSE:IP)

Cherry Tree Wealth Management LLC lessened its holdings in International Paper (NYSE:IP) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in International Paper were worth $72,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mizuho Markets Americas LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $144,509,000. Acadian Asset Management LLC increased its position in International Paper by 208.0% in the 3rd quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock valued at $57,129,000 after acquiring an additional 1,087,933 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after acquiring an additional 1,011,315 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after acquiring an additional 777,273 shares during the last quarter. Finally, Atlas FRM LLC lifted its position in shares of International Paper by 30.0% during the third quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock worth $92,222,000 after purchasing an additional 600,000 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 9,400 shares of company stock valued at $331,402 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Stock Up 5.2 %

IP stock traded up $1.92 during midday trading on Tuesday, hitting $38.84. The company’s stock had a trading volume of 28,854,045 shares, compared to its average volume of 5,380,797. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. International Paper has a twelve month low of $29.00 and a twelve month high of $41.30. The company’s fifty day moving average price is $36.84 and its 200 day moving average price is $35.88. The stock has a market capitalization of $13.49 billion, a P/E ratio of 79.27 and a beta of 1.01.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts predict that International Paper will post 1.88 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IP. Royal Bank of Canada restated an “outperform” rating and set a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Wells Fargo & Company dropped their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.57.

International Paper Profile

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.