Ceredex Value Advisors LLC Sells 555,993 Shares of International Paper Company $IP

Ceredex Value Advisors LLC trimmed its stake in International Paper Company (NYSE:IP) by 34.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,058,713 shares of the basic materials company’s stock after selling 555,993 shares during the quarter. International Paper makes up about 1.1% of Ceredex Value Advisors LLC’s portfolio, making the stock its 21st biggest holding. Ceredex Value Advisors LLC’s holdings in International Paper were worth $49,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IP. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of International Paper in the 2nd quarter valued at approximately $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the second quarter valued at $35,000. CYBER HORNET ETFs LLC acquired a new position in shares of International Paper during the 2nd quarter worth about $43,000. City Holding Co. bought a new stake in shares of International Paper in the 3rd quarter valued at about $46,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in International Paper in the 3rd quarter valued at about $49,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, CEO Andrew K. Silvernail purchased 50,000 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was bought at an average price of $39.98 per share, with a total value 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. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IP. JPMorgan Chase & Co. lifted their target price on International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Wells Fargo & Company upgraded shares of International Paper from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $36.00 to $40.00 in a research note on Friday, January 30th. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, Citigroup increased their target price on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.25.

International Paper Stock Down 2.9%

Shares of NYSE IP opened at $38.37 on Tuesday. The stock has a market capitalization of $20.32 billion, a P/E ratio of -5.72 and a beta of 1.09. The stock’s fifty day moving average is $43.33 and its 200 day moving average is $43.13. International Paper Company has a 52 week low of $35.56 and a 52 week high of $56.64. 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 announced its quarterly earnings data 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). International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was up 53.1% on a year-over-year basis. Sell-side analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

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.