International Paper Company $IP Position Raised by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in shares of International Paper Company (NYSE:IP) by 21.4% in the 3rd quarter, Holdings Channel reports. The fund owned 86,935 shares of the basic materials company’s stock after buying an additional 15,321 shares during the period. Metis Global Partners LLC’s holdings in International Paper were worth $4,034,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Wellington Shields Capital Management LLC boosted its stake in International Paper by 7.0% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 226 shares during the period. Atalanta Sosnoff Capital LLC raised its holdings in shares of International Paper by 3.8% during the second quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock valued at $317,000 after buying an additional 245 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of International Paper by 10.1% during the second quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after buying an additional 259 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of International Paper by 1.7% during the third quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock worth $736,000 after buying an additional 263 shares during the period. Finally, Ballentine Partners LLC grew its holdings in International Paper by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock worth $253,000 after buying an additional 271 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

NYSE:IP opened at $49.17 on Friday. The business’s 50-day moving average price is $41.67 and its 200 day moving average price is $43.62. The firm has a market cap of $25.96 billion, a P/E ratio of -7.33 and a beta of 1.11. International Paper Company has a 52-week low of $35.56 and a 52-week high of $57.55. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share 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 business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the company posted ($0.02) earnings per share. International Paper’s revenue was up 53.1% compared to the same quarter last year. As a group, sell-side analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Insider Activity at International Paper

In other International Paper news, CEO Andrew K. Silvernail bought 50,000 shares of International Paper stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,999,000. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The SEC filing for this sale provides additional information. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on IP shares. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and decreased their target price for the company from $51.00 to $44.00 in a research report on Monday, February 2nd. 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 report on Monday, December 22nd. Finally, Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Eight 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.25.

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.