Wolverine Asset Management LLC Purchases New Holdings in International Paper Company $IP

Wolverine Asset Management LLC purchased a new stake in shares of International Paper Company (NYSE:IP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 18,000 shares of the basic materials company’s stock, valued at approximately $709,000.

A number of other large investors also recently bought and sold shares of the business. International Private Wealth Advisors LLC lifted its position in International Paper by 4.1% during the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 243 shares during the period. Evergreen Capital Management LLC lifted its position in International Paper by 1.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock valued at $736,000 after acquiring an additional 263 shares during the period. Horizon Investments LLC lifted its position in International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after acquiring an additional 267 shares during the period. Rafferty Asset Management LLC lifted its position in International Paper by 0.6% during the 3rd 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. Finally, Ballentine Partners LLC lifted its position in International Paper by 5.2% during the 3rd quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 271 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Up 5.2%

Shares of International Paper stock opened at $33.51 on Thursday. 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 stock has a market capitalization of $17.74 billion, a PE ratio of -5.27 and a beta of 0.93. International Paper Company has a 52-week low of $29.45 and a 52-week high of $56.13. The company has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $39.84.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. On average, analysts anticipate that International Paper Company will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IP shares. Truist Financial lowered their price target on shares of International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 23rd. Stifel Nicolaus lowered their price target on shares of International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research report on Monday, February 9th. UBS Group lowered their price target on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Jefferies Financial Group lifted their target price on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Insider Activity

In other International Paper news, Director Anders Gustafsson bought 13,217 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought 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 of the company’s stock, valued at $987,060.36. This represents a 102.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Tozier bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price 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 of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 36,092 shares of company stock valued at $1,313,064 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

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.