International Paper Company $IP Shares Acquired by Capital Research Global Investors

Capital Research Global Investors grew its stake in shares of International Paper Company (NYSE:IP) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,330,790 shares of the basic materials company’s stock after purchasing an additional 3,768,772 shares during the quarter. Capital Research Global Investors owned approximately 0.10% of International Paper worth $2,520,945,000 as of its most recent filing with the Securities and Exchange Commission.

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

International Paper Stock Performance

Shares of NYSE IP opened at $38.37 on Tuesday. International Paper Company has a one year low of $35.56 and a one year high of $56.64. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $43.33 and a 200 day simple moving average of $43.13. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of -5.72 and a beta of 1.09.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The business 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 company’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. Sell-side analysts expect that International Paper Company will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of analyst reports. UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and cut their price objective for the company from $51.00 to $44.00 in a research report on Monday, February 2nd. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $36.00 to $40.00 in a research 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 price objective for the company in a research note on Monday, November 24th. Royal Bank Of Canada reduced their target price on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.25.

Insider Transactions at International Paper

In other news, CEO Andrew K. Silvernail purchased 50,000 shares of International Paper stock in a transaction on Friday, January 30th. The shares were purchased 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 approximately $1,999,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is 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.