International Paper Company $IP Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of International Paper Company (NYSE:IP) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,607 shares of the basic materials company’s stock after selling 11,023 shares during the period. ProShare Advisors LLC’s holdings in International Paper were worth $4,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SPC Financial Inc. grew its holdings in shares of International Paper by 4.8% during the third quarter. SPC Financial Inc. now owns 15,735 shares of the basic materials company’s stock valued at $730,000 after buying an additional 716 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in International Paper by 3.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,485,778 shares of the basic materials company’s stock worth $254,540,000 after acquiring an additional 161,624 shares during the last quarter. Palacios Wealth Management LLC lifted its position in International Paper by 16.7% during the 3rd quarter. Palacios Wealth Management LLC now owns 5,085 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 727 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in International Paper during the 3rd quarter valued at about $238,000. Finally, Smartleaf Asset Management LLC grew its stake in International Paper by 99.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,463 shares of the basic materials company’s stock valued at $206,000 after purchasing an additional 2,229 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

IP opened at $49.17 on Friday. The firm has a fifty day moving average price of $41.67 and a 200 day moving average price of $43.62. International Paper Company has a 1 year low of $35.56 and a 1 year high of $57.55. The stock has a market cap of $25.96 billion, a P/E ratio of -7.33 and a beta of 1.11. 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 released its quarterly earnings results 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). The firm had revenue of $6.01 billion for 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 firm’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS. Equities research analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IP. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Monday, November 24th. UBS Group cut shares of International Paper from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $51.00 to $44.00 in a research note on Monday, February 2nd. Wells Fargo & Company upgraded shares of International Paper from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $36.00 to $40.00 in a research note on Friday, January 30th. Finally, Jefferies Financial Group raised their target price on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, International Paper has a consensus rating of “Hold” and a consensus target price of $48.25.

Insider Transactions at International Paper

In other International Paper news, CEO Andrew K. Silvernail purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the purchase, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is owned by company 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.