Thrivent Financial for Lutherans Increases Stock Holdings in International Paper Company $IP

Thrivent Financial for Lutherans grew its stake in International Paper Company (NYSE:IP) by 41.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,068 shares of the basic materials company’s stock after buying an additional 60,001 shares during the period. Thrivent Financial for Lutherans’ holdings in International Paper were worth $9,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Bank of New York Mellon Corp raised its stake in shares of 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 last quarter. AE Wealth Management LLC increased its stake in International Paper by 8.5% in the 3rd quarter. AE Wealth Management LLC now owns 332,310 shares of the basic materials company’s stock valued at $15,419,000 after buying an additional 26,146 shares during the period. Westfield Capital Management Co. LP raised its position in International Paper by 9.7% during 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 buying an additional 205,888 shares during the last quarter. Norges Bank purchased a new position in International Paper during the 2nd quarter worth $281,735,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of International Paper in the 2nd quarter worth $604,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Down 0.8%

Shares of NYSE IP opened at $44.32 on Friday. The firm’s 50-day moving average is $40.56 and its two-hundred day moving average is $43.86. The company has a market capitalization of $23.40 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. International Paper Company has a 12-month low of $35.56 and a 12-month high of $57.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Argus dropped 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 note on Monday, December 22nd. Stifel Nicolaus set a $57.80 target price on shares of International Paper and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group cut shares of International Paper from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $51.00 to $44.00 in a research note on Monday. Royal Bank Of Canada decreased their price objective on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Finally, Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.89.

Insider Buying and Selling at International Paper

In other news, CEO Andrew K. Silvernail bought 50,000 shares of International Paper stock in a transaction on Friday, January 30th. The shares were bought at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the acquisition, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is owned by corporate insiders.

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.