Forte Capital LLC ADV Sells 2,515 Shares of International Paper Co (NYSE:IP)

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Forte Capital LLC ADV decreased its holdings in shares of International Paper Co (NYSE:IP) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,822 shares of the basic materials company’s stock after selling 2,515 shares during the period. Forte Capital LLC ADV’s holdings in International Paper were worth $683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of International Paper by 32.0% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock worth $39,000 after buying an additional 224 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of International Paper by 1.6% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 14,812 shares of the basic materials company’s stock worth $619,000 after buying an additional 228 shares in the last quarter. Fulcrum Capital LLC acquired a new stake in shares of International Paper during the third quarter worth approximately $15,139,000. Shulman DeMeo Asset Management LLC increased its holdings in shares of International Paper by 3.0% during the third quarter. Shulman DeMeo Asset Management LLC now owns 8,403 shares of the basic materials company’s stock worth $351,000 after buying an additional 245 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in shares of International Paper by 15.5% during the third quarter. Carroll Financial Associates Inc. now owns 1,930 shares of the basic materials company’s stock worth $80,000 after buying an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Shares of International Paper stock traded down $0.03 during midday trading on Friday, reaching $44.08. The company had a trading volume of 73,744 shares, compared to its average volume of 2,798,868. The company has a current ratio of 1.49, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 8.31 and a beta of 1.52. The stock has a fifty day simple moving average of $45.92 and a 200 day simple moving average of $42.93. International Paper Co has a 1-year low of $36.45 and a 1-year high of $48.24.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.63 billion. International Paper had a net margin of 6.03% and a return on equity of 26.97%. International Paper’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 earnings per share. Sell-side analysts expect that International Paper Co will post 4.37 earnings per share for the current year.

IP has been the subject of several recent analyst reports. Royal Bank of Canada set a $43.00 price objective on shares of International Paper and gave the stock a “hold” rating in a report on Friday, November 1st. Exane BNP Paribas initiated coverage on shares of International Paper in a report on Monday, December 2nd. They set an “outperform” rating and a $53.00 price objective for the company. Wells Fargo & Co dropped their price objective on shares of International Paper from $43.00 to $42.00 and set a “market perform” rating for the company in a report on Tuesday, October 8th. Stephens set a $50.00 price objective on shares of International Paper and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.33.

In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $44.83, for a total value of $358,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.

International Paper Profile

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 involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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