International Paper (NYSE:IP) Director Acquires $499,999.11 in Stock

International Paper Company (NYSE:IP) Director Anders Gustafsson bought 13,217 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the acquisition, the director owned 26,092 shares in the company, valued at $987,060.36. This represents a 102.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Anders Gustafsson also recently made the following trade(s):

• On Wednesday, March 11th, Anders Gustafsson purchased 12,875 shares of International Paper stock. The shares were bought at an average price of $38.84 per share, with a total value of $500,065.00.

International Paper Stock Down 8.1%

NYSE:IP traded down $3.14 on Thursday, hitting $35.52. The stock had a trading volume of 6,252,903 shares, compared to its average volume of 7,167,723. International Paper Company has a 1 year low of $35.45 and a 1 year high of $56.64. The stock has a market cap of $18.81 billion, a P/E ratio of -5.29 and a beta of 1.09. The firm’s fifty day simple moving average is $43.30 and its two-hundred day simple moving average is $43.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28.

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

Analyst Ratings Changes

Several brokerages have issued reports on IP. Jefferies Financial Group upped their target price on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Truist Financial set a $48.00 price target on International Paper in a research report on Thursday, February 26th. Citigroup raised their target price on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Argus dropped their price target on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Finally, UBS Group cut shares of International Paper from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.25.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC lifted its holdings in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of International Paper in the fourth quarter worth about $25,000. DV Equities LLC bought a new stake in International Paper in the 4th quarter worth approximately $29,000. Sound Income Strategies LLC increased its position in International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares during the last quarter. Finally, Summit Securities Group LLC raised its position in shares of International Paper by 115.4% during the 4th quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock valued at $31,000 after buying an additional 5,875 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

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.