Vanguard Group Inc. Raises Position in International Paper Company $IP

Vanguard Group Inc. grew its holdings in shares of International Paper Company (NYSE:IP) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,357,913 shares of the basic materials company’s stock after purchasing an additional 310,834 shares during the period. Vanguard Group Inc. owned approximately 0.12% of International Paper worth $2,535,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its stake in International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the last quarter. Kelleher Financial Advisors purchased a new position in International Paper in the 3rd quarter worth $36,000. City Holding Co. purchased a new position in International Paper in the 3rd quarter worth $46,000. Atlantic Union Bankshares Corp purchased a new position in International Paper in the 3rd quarter worth $49,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in International Paper in the 3rd quarter worth $56,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IP shares. Citigroup reduced their target price on International Paper from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Stifel Nicolaus reduced their target price on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research note on Monday, February 9th. Royal Bank Of Canada reduced their target price on International Paper from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. BNP Paribas Exane reduced their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Finally, JPMorgan Chase & Co. reduced their target price on International Paper from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.48.

International Paper Price Performance

Shares of IP opened at $33.49 on Thursday. The business’s 50-day moving average is $37.58 and its two-hundred day moving average is $40.19. The company has a market capitalization of $17.73 billion, a P/E ratio of -4.99 and a beta of 1.14. 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 Company has a fifty-two week low of $32.13 and a fifty-two week high of $56.13.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.International Paper’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. Research analysts predict that International Paper Company will post 1.65 earnings per share for the current year.

Insider Activity

In related news, Director Anders Gustafsson purchased 13,217 shares of the business’s stock in a transaction on 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 owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 76,092 shares of company stock worth $2,999,064 over the last ninety days. 0.21% of the stock is owned by insiders.

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.