NEOS Investment Management LLC Buys 16,313 Shares of International Paper Company $IP

NEOS Investment Management LLC grew its stake in shares of International Paper Company (NYSE:IP) by 53.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,614 shares of the basic materials company’s stock after purchasing an additional 16,313 shares during the quarter. NEOS Investment Management LLC’s holdings in International Paper were worth $2,163,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of International Paper by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 64,047,079 shares of the basic materials company’s stock valued at $2,971,784,000 after acquiring an additional 167,889 shares during the period. State Street Corp lifted its stake in International Paper by 3.2% in the 2nd quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock valued at $1,376,175,000 after purchasing an additional 902,741 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in International Paper by 9.3% during 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 purchasing an additional 1,592,411 shares during the period. Geode Capital Management LLC increased its position in International Paper by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock worth $622,133,000 after buying an additional 294,296 shares during the last quarter. Finally, Invesco Ltd. boosted its position in International Paper by 1.5% during the second quarter. Invesco Ltd. now owns 8,160,930 shares of the basic materials company’s stock worth $382,176,000 after purchasing an additional 120,802 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, CEO Andrew K. Silvernail bought 50,000 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was bought at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at $1,999,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on IP shares. BNP Paribas Exane raised 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. UBS Group downgraded International Paper from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Wells Fargo & Company raised shares of International Paper from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $36.00 to $40.00 in a research report on Friday, January 30th. Argus lowered their price target on shares of 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, Jefferies Financial Group lifted their price objective on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Eight 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, International Paper presently has an average rating of “Hold” and a consensus target price of $48.25.

International Paper Stock Performance

IP opened at $46.81 on Friday. The firm has a market cap of $24.72 billion, a P/E ratio of -6.98 and a beta of 1.11. International Paper Company has a 52-week low of $35.56 and a 52-week high of $57.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. The business’s fifty day moving average is $42.63 and its 200-day moving average is $43.58.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the firm earned ($0.02) EPS. The firm’s revenue for the quarter was up 53.1% compared to the same quarter last year. Sell-side analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

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.