Vanguard Group Inc. Raises Position in International Paper Company $IP

Vanguard Group Inc. raised its holdings in shares of International Paper Company (NYSE:IP) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 64,047,079 shares of the basic materials company’s stock after acquiring an additional 167,889 shares during the period. Vanguard Group Inc. owned approximately 0.12% of International Paper worth $2,971,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IP. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares during the period. AE Wealth Management LLC grew its position in International Paper by 8.5% during the 3rd quarter. AE Wealth Management LLC now owns 332,310 shares of the basic materials company’s stock worth $15,419,000 after acquiring an additional 26,146 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in International Paper by 9.7% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock worth $108,819,000 after purchasing an additional 205,888 shares during the period. Caprock Group LLC bought a new stake in International Paper in the third quarter valued at approximately $2,340,000. Finally, Norges Bank purchased a new stake in shares of International Paper during the second quarter valued at approximately $281,735,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on IP. UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and lowered their price target for the company from $51.00 to $44.00 in a report on Monday, February 2nd. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Monday, November 24th. Citigroup raised their target price on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Argus lowered their price target on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Finally, Truist Financial cut their price objective on International Paper from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.25.

Insider Buying and Selling at International Paper

In other International Paper news, CEO Andrew K. Silvernail acquired 50,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were acquired at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the acquisition, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

International Paper Stock Performance

Shares of IP opened at $48.56 on Thursday. The company has a 50-day simple moving average of $42.30 and a two-hundred day simple moving average of $43.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The firm has a market capitalization of $25.64 billion, a PE ratio of -7.24 and a beta of 1.11. International Paper Company has a one year low of $35.56 and a one year high of $57.50.

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