Huntington National Bank Reduces Position in International Paper Company $IP

Huntington National Bank trimmed its holdings in International Paper Company (NYSE:IP) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,111 shares of the basic materials company’s stock after selling 18,377 shares during the quarter. Huntington National Bank’s holdings in International Paper were worth $3,810,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of IP. Gentry Private Wealth LLC increased its stake in International Paper by 3.1% in the third quarter. Gentry Private Wealth LLC now owns 9,651 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 294 shares during the period. Erste Asset Management GmbH grew its holdings in shares of International Paper by 5.7% in the third quarter. Erste Asset Management GmbH now owns 121,700 shares of the basic materials company’s stock worth $5,608,000 after purchasing an additional 6,600 shares during the last quarter. Handelsbanken Fonder AB increased its stake in International Paper by 1.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 132,582 shares of the basic materials company’s stock worth $6,152,000 after buying an additional 1,582 shares during the period. DNB Asset Management AS lifted its holdings in International Paper by 4.6% during the 3rd quarter. DNB Asset Management AS now owns 106,013 shares of the basic materials company’s stock valued at $4,919,000 after buying an additional 4,641 shares in the last quarter. Finally, Interchange Capital Partners LLC bought a new stake in International Paper during the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

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 cost 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 in the company, valued at approximately $1,999,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

International Paper Price Performance

Shares of IP stock opened at $43.47 on Friday. The stock’s 50-day moving average is $43.14 and its 200 day moving average is $43.43. International Paper Company has a 1-year low of $35.56 and a 1-year high of $57.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The company has a market cap of $22.95 billion, a P/E ratio of -6.48 and a beta of 1.11.

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). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the company posted ($0.02) earnings per share. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. Research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IP shares. Royal Bank Of Canada dropped their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Argus dropped their price objective on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $36.00 to $40.00 in a report on Friday, January 30th. BNP Paribas Exane raised International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. increased their price target on International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company 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.