Capital International Inc. CA Purchases 345,821 Shares of International Paper Company $IP

Capital International Inc. CA boosted its position in International Paper Company (NYSE:IP) by 100.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 689,724 shares of the basic materials company’s stock after acquiring an additional 345,821 shares during the quarter. Capital International Inc. CA’s holdings in International Paper were worth $32,003,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IP. Atalanta Sosnoff Capital LLC lifted its stake in International Paper by 3.8% during the second quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 245 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of International Paper by 1.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock valued at $736,000 after purchasing an additional 263 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of International Paper by 0.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company’s stock worth $2,088,000 after buying an additional 268 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of International Paper by 5.2% during the 3rd quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock worth $253,000 after buying an additional 271 shares in the last quarter. Finally, Gentry Private Wealth LLC lifted its position in shares of International Paper by 3.1% during the 3rd quarter. Gentry Private Wealth LLC now owns 9,651 shares of the basic materials company’s stock worth $448,000 after buying an additional 294 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on IP shares. Truist Financial set a $48.00 price objective on International Paper in a research note on Thursday, February 26th. Wells Fargo & Company upgraded shares of International Paper from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $36.00 to $40.00 in a research note on Friday, January 30th. Citigroup lifted their price target on shares of International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a report on Friday, January 30th. Stifel Nicolaus lowered their price objective on shares of International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and cut their target price for the company from $51.00 to $44.00 in a research report on Monday, February 2nd. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.25.

Insider Activity at International Paper

In other International Paper news, CEO Andrew K. Silvernail acquired 50,000 shares of International Paper stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

International Paper Stock Down 2.9%

Shares of NYSE IP opened at $38.37 on Tuesday. The company has a 50 day simple moving average of $43.33 and a 200 day simple moving average of $43.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. International Paper Company has a 1 year low of $35.56 and a 1 year high of $56.64. The firm has a market cap of $20.32 billion, a PE ratio of -5.72 and a beta of 1.09.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue was up 53.1% compared to the same quarter last year. On average, research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.