International Paper (NYSE:IP) Director Purchases $499,999.11 in Stock

International Paper Company (NYSE:IP) Director Anders Gustafsson acquired 13,217 shares of the stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the transaction, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. This represents a 102.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Anders Gustafsson also recently made the following trade(s):

• On Wednesday, March 11th, Anders Gustafsson acquired 12,875 shares of International Paper stock. The stock was bought at an average cost of $38.84 per share, for a total transaction of $500,065.00.

International Paper Price Performance

Shares of NYSE IP opened at $37.30 on Friday. The company has a fifty day moving average price of $43.17 and a 200 day moving average price of $42.85. The firm has a market cap of $19.75 billion, a PE ratio of -5.56 and a beta of 1.09. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. International Paper Company has a 1-year low of $35.45 and a 1-year high of $56.64.

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

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of International Paper in the first quarter valued at approximately $249,000. Intech Investment Management LLC increased its holdings in shares of International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after acquiring an additional 16,055 shares during the last quarter. Savant Capital LLC increased its holdings in shares of International Paper by 4.9% during the 2nd quarter. Savant Capital LLC now owns 37,613 shares of the basic materials company’s stock worth $1,761,000 after acquiring an additional 1,752 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in International Paper by 65.0% in the 1st quarter. Summit Investment Advisors Inc. now owns 5,585 shares of the basic materials company’s stock valued at $298,000 after acquiring an additional 2,200 shares during the period. Finally, AGF Management Ltd. acquired a new stake in International Paper during the 2nd quarter valued at $258,000. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada cut their target price on International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Truist Financial set a $48.00 price target on shares of International Paper in a research note on Thursday, February 26th. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, November 24th. Zacks Research lowered 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 shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a report 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.com, International Paper presently has an average rating of “Hold” and an average price target of $48.25.

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.