International Paper Company $IP Holdings Cut by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in International Paper Company (NYSE:IP) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,414 shares of the basic materials company’s stock after selling 19,531 shares during the quarter. QRG Capital Management Inc.’s holdings in International Paper were worth $3,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC grew its stake 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 valued at $31,000 after purchasing an additional 344 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of International Paper during the 3rd quarter worth about $36,000. Laurel Wealth Advisors LLC acquired a new stake in shares of International Paper during the 4th quarter valued at about $37,000. City Holding Co. bought a new stake in shares of International Paper in the 3rd quarter valued at approximately $46,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of International Paper in the 3rd quarter valued at approximately $49,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of several recent research reports. BNP Paribas Exane cut their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings downgraded shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Stifel Nicolaus dropped their price target on shares of International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target on the stock. Finally, Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $39.00 in a report on Monday. Nine investment 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. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Insiders Place Their Bets

In other news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares in the company, valued at $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anders Gustafsson acquired 13,217 shares of International Paper stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, with a total value of $499,999.11. Following the transaction, the director directly owned 26,092 shares in the company, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 36,092 shares of company stock worth $1,313,064 in the last ninety days. 0.21% of the stock is currently owned by insiders.

International Paper Trading Up 5.2%

Shares of NYSE:IP opened at $33.51 on Thursday. International Paper Company has a 52-week low of $29.45 and a 52-week high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The company has a market cap of $17.74 billion, a P/E ratio of -5.27 and a beta of 0.93. The stock’s 50-day moving average is $36.73 and its 200-day moving average is $39.84.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $0.17 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that International Paper Company will post 1.43 earnings per share for the current year.

International Paper Company 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.