Capital Research Global Investors Purchases 3,768,772 Shares of International Paper Company $IP

Capital Research Global Investors grew its position in International Paper Company (NYSE:IP) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,330,790 shares of the basic materials company’s stock after buying an additional 3,768,772 shares during the quarter. Capital Research Global Investors owned 10.29% of International Paper worth $2,520,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IP. AE Wealth Management LLC grew its position in International Paper by 8.5% during the 3rd quarter. AE Wealth Management LLC now owns 332,310 shares of the basic materials company’s stock worth $15,419,000 after purchasing an additional 26,146 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of 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 purchasing an additional 205,888 shares during the period. Caprock Group LLC acquired a new position in shares of International Paper in the 3rd quarter valued at $2,340,000. Norges Bank purchased a new stake in International Paper during the second quarter worth $281,735,000. Finally, Tableaux LLC acquired a new stake in International Paper during the second quarter valued at $2,342,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other International Paper news, CEO Andrew K. Silvernail purchased 50,000 shares of International Paper stock in a transaction dated Friday, January 30th. The shares were acquired at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at $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 can be accessed through this link. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial set a $48.00 target price on International Paper in a research report on Thursday, February 26th. Argus cut their price objective on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $36.00 to $40.00 in a research report on Friday, January 30th. UBS Group cut shares of International Paper from a “buy” rating to a “neutral” rating and dropped their price target for the company from $51.00 to $44.00 in a research note on Monday, February 2nd. Finally, Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.25.

International Paper Stock Performance

Shares of NYSE:IP opened at $38.37 on Tuesday. The firm has a market capitalization of $20.32 billion, a PE ratio of -5.72 and a beta of 1.09. The business’s 50 day moving average price is $43.33 and its 200-day moving average price is $43.13. International Paper Company has a 1 year low of $35.56 and a 1 year high of $56.64. 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 issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The business’s revenue was up 53.1% compared to the same quarter last year. As a group, equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal 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.