Russell Investments Group Ltd. Increases Position in International Paper Company $IP

Russell Investments Group Ltd. increased its holdings in International Paper Company (NYSE:IP) by 15.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 788,473 shares of the basic materials company’s stock after purchasing an additional 104,771 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of International Paper worth $36,577,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IP. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of International Paper during the 2nd quarter worth approximately $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the 2nd quarter valued at $35,000. CYBER HORNET ETFs LLC acquired a new stake in International Paper in the 2nd quarter valued at $43,000. City Holding Co. purchased a new stake in International Paper in the 3rd quarter worth $46,000. Finally, Atlantic Union Bankshares Corp acquired a new position in International Paper during the third quarter worth $49,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IP shares. Stifel Nicolaus dropped their target price on shares of International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research report on Monday, February 9th. Argus decreased 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 note on Monday, December 22nd. Jefferies Financial Group lifted their price objective on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price objective on International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.25.

International Paper Price Performance

Shares of NYSE IP opened at $38.62 on Thursday. The firm has a 50-day simple moving average of $43.30 and a 200-day simple moving average of $43.03. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of -5.76 and a beta of 1.09. International Paper Company has a 52 week low of $35.56 and a 52 week high of $56.64.

International Paper (NYSE:IP) last posted 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). The business 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%.The business’s revenue was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at International Paper

In related news, CEO Andrew K. Silvernail purchased 50,000 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was acquired 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 of the company’s stock, valued at approximately $1,999,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

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.