KLCM Advisors Inc. Sells 6,000 Shares of International Paper (NYSE:IP)

KLCM Advisors Inc. lowered its stake in International Paper (NYSE:IP) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,210 shares of the basic materials company’s stock after selling 6,000 shares during the quarter. KLCM Advisors Inc.’s holdings in International Paper were worth $2,574,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Desjardins Global Asset Management Inc. grew its position in International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the period. Manchester Capital Management LLC acquired a new stake in International Paper in the 3rd quarter valued at $25,000. CVA Family Office LLC acquired a new stake in International Paper in the 4th quarter valued at $27,000. Venturi Wealth Management LLC grew its position in International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 753 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in International Paper in the 4th quarter valued at $27,000. Institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 8,800 shares of company stock worth $310,438. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IP shares. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Wells Fargo & Company cut their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Truist Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.13.

International Paper Stock Performance

Shares of NYSE:IP traded down $0.86 during midday trading on Wednesday, reaching $35.91. The company had a trading volume of 8,615,440 shares, compared to its average volume of 6,061,582. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28. The company’s 50 day moving average price is $36.70 and its 200 day moving average price is $35.84. The stock has a market cap of $12.47 billion, a P/E ratio of 43.79 and a beta of 0.99. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the business posted $0.87 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Paper will post 1.88 EPS for the current fiscal year.

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.