Raymond James Trust N.A. Has $444,000 Position in International Paper (NYSE:IP)

Posted by Defense World Staff on Apr 24th, 2023

Raymond James Trust N.A. increased its holdings in shares of International Paper (NYSE:IP – Get Rating) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,816 shares of the basic materials company’s stock after acquiring an additional 1,388 shares during the period. Raymond James Trust N.A.’s holdings in International Paper were worth $444,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in International Paper by 165.8% in the third quarter. EverSource Wealth Advisors LLC now owns 776 shares of the basic materials company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Dupont Capital Management Corp boosted its position in International Paper by 133.4% in the fourth quarter. Dupont Capital Management Corp now owns 803 shares of the basic materials company’s stock valued at $28,000 after buying an additional 459 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its position in International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after buying an additional 211 shares in the last quarter. Tobam acquired a new position in International Paper in the third quarter valued at about $36,000. Finally, Kistler Tiffany Companies LLC boosted its position in International Paper by 576.5% in the fourth quarter. Kistler Tiffany Companies LLC now owns 1,035 shares of the basic materials company’s stock valued at $36,000 after buying an additional 882 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IP. Wells Fargo & Company boosted their target price on shares of International Paper from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Royal Bank of Canada boosted their target price on shares of International Paper from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 1st. Citigroup boosted their target price on shares of International Paper from $36.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. UBS Group raised shares of International Paper from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $31.00 to $43.00 in a research note on Friday, February 3rd. Finally, Truist Financial boosted their target price on shares of International Paper from $30.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.82.

Insider Activity at International Paper

In related news, CEO Mark S. Sutton sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $34.58, for a total transaction of $2,939,300.00. Following the completion of the transaction, the chief executive officer now owns 143,000 shares in the company, valued at $4,944,940. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Mark S. Sutton sold 85,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $34.58, for a total value of $2,939,300.00. Following the completion of the transaction, the chief executive officer now owns 143,000 shares in the company, valued at $4,944,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph R. Saab sold 1,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $35.35, for a total transaction of $60,271.75. Following the completion of the transaction, the senior vice president now owns 1,671 shares of the company’s stock, valued at approximately $59,069.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,567 shares of company stock worth $3,261,447. 0.51% of the stock is currently owned by company insiders.

International Paper Trading Down 1.4 %

IP opened at $36.04 on Monday. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 8.86 and a beta of 1.05. The firm has a 50 day simple moving average of $36.17 and a 200 day simple moving average of $35.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.35 and a quick ratio of 0.97. International Paper has a fifty-two week low of $30.69 and a fifty-two week high of $49.39.

International Paper (NYSE:IP – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.20 billion. International Paper had a net margin of 7.11% and a return on equity of 15.81%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, sell-side analysts anticipate that International Paper will post 2.9 earnings per share for the current year.

International Paper Company Profile

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.