Bastion Asset Management Inc. Acquires Shares of 19,669 International Paper (NYSE:IP)

Bastion Asset Management Inc. purchased a new stake in shares of International Paper (NYSE:IP) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 19,669 shares of the basic materials company’s stock, valued at approximately $1,060,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beryl Capital Management LLC purchased a new stake in International Paper in the fourth quarter worth approximately $5,547,000. Alyeska Investment Group L.P. boosted its stake in shares of International Paper by 134.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock worth $212,522,000 after buying an additional 2,266,762 shares during the last quarter. Atalanta Sosnoff Capital LLC grew its holdings in shares of International Paper by 11.5% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 5,490 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 566 shares during the period. AXA S.A. increased its position in International Paper by 205.9% during the fourth quarter. AXA S.A. now owns 50,342 shares of the basic materials company’s stock valued at $2,709,000 after acquiring an additional 33,886 shares during the last quarter. Finally, AYAL Capital Advisors Ltd increased its position in International Paper by 73.1% during the fourth quarter. AYAL Capital Advisors Ltd now owns 163,400 shares of the basic materials company’s stock valued at $8,794,000 after acquiring an additional 69,000 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 4.4 %

Shares of NYSE:IP opened at $45.83 on Friday. International Paper has a 1 year low of $35.76 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market capitalization of $24.19 billion, a P/E ratio of 29.19, a P/E/G ratio of 0.39 and a beta of 0.99. The business’s 50-day moving average is $49.99 and its 200 day moving average is $53.51.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter in the previous year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target for the company. Truist Financial reduced their price objective on shares of International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

International Paper Company 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.