10 Best Land and Timber Stocks to Buy According to Hedge Funds

3. International Paper Company (NYSE:IP)

Number of Hedge Fund Holders: 37

International Paper Company (NYSE:IP) is a major player in the production and distribution of renewable, fiber-based packaging and pulp products. The company’s reach is extensive, supplying customers across North America, Latin America, Europe, and North Africa.

International Paper Company (NYSE:IP) recently reported its first-quarter 2024 results, showing net earnings of $56 million ($0.16 per diluted share), a significant improvement from a net loss of $284 million (-$0.82 per share) in the previous quarter.

Analysts are optimistic about the future of International Paper Company (NYSE:IP), giving it a consensus rating of “Moderate Buy.” This indicates that most analysts view the stock as a worthwhile investment. The average price target is $48.25, suggesting a potential upside of 1.97% from the current price levels. The price targets vary, ranging from a high of $57 to a low of $41, reflecting some differences in expectations.

Of the 920 hedge funds tracked by Insider Monkey at the end of Q1 2024, 37 funds reported owning a stake in International Paper Company (NYSE:IP). Greenhaven Associates was the leading hedge fund investor in the company.