SG Americas Securities LLC Purchases 774,301 Shares of International Paper Company $IP

SG Americas Securities LLC increased its position in shares of International Paper Company (NYSE:IP) by 94.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,590,689 shares of the basic materials company’s stock after buying an additional 774,301 shares during the period. SG Americas Securities LLC’s holdings in International Paper were worth $62,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evergreen Capital Management LLC raised its holdings in 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 worth $736,000 after acquiring an additional 263 shares during the period. Rafferty Asset Management LLC boosted its holdings in International Paper by 0.6% during the third quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company’s stock valued at $2,088,000 after acquiring an additional 268 shares during the period. Ballentine Partners LLC grew its position in shares of International Paper by 5.2% in the third quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 271 shares during the last quarter. Gentry Private Wealth LLC grew its position in shares of International Paper by 3.1% in the third quarter. Gentry Private Wealth LLC now owns 9,651 shares of the basic materials company’s stock valued at $448,000 after purchasing an additional 294 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of International Paper by 2.0% in the second quarter. Valeo Financial Advisors LLC now owns 15,349 shares of the basic materials company’s stock worth $719,000 after purchasing an additional 301 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

In other news, Director Anders Gustafsson acquired 13,217 shares of the stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the transaction, the director owned 26,092 shares in the company, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew K. Silvernail bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased 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 of the company’s stock, valued at $1,999,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 76,092 shares of company stock worth $2,999,064 in the last three months. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IP. Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Truist Financial set a $48.00 target price on International Paper in a report on Thursday, February 26th. Stifel Nicolaus cut their price target on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a report on Monday, February 9th. Royal Bank Of Canada reduced their price objective on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Finally, Wells Fargo & Company lowered their price objective on shares of International Paper from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, March 20th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.06.

International Paper Stock Up 1.8%

NYSE IP opened at $36.22 on Wednesday. International Paper Company has a twelve month low of $33.57 and a twelve month high of $56.64. The stock has a market cap of $19.17 billion, a PE ratio of -5.40 and a beta of 1.09. The firm has a 50-day simple moving average of $42.35 and a 200 day simple moving average of $42.16. 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 issued its quarterly 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 for the quarter, compared to the consensus estimate of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company’s revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. 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.