International Paper Company $IP Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in International Paper Company (NYSE:IP) by 15.3% in the third quarter, according to its most recent Form 13F 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.’s holdings in International Paper were worth $36,577,000 at the end of the most recent reporting period.

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

International Paper Stock Down 1.2%

Shares of NYSE IP opened at $38.62 on Thursday. 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 business’s 50 day moving average is $43.30 and its two-hundred day moving average is $43.03. International Paper Company has a 52-week low of $35.56 and a 52-week high of $56.64. The firm has a market cap of $20.45 billion, a price-to-earnings ratio of -5.76 and a beta of 1.09.

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

Insider Buying and Selling

In other news, CEO Andrew K. Silvernail bought 50,000 shares of the company’s stock in a transaction on Friday, January 30th. The stock was bought at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the transaction, the chief executive officer directly owned 50,000 shares in the company, valued at $1,999,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

IP has been the subject of several analyst reports. Citigroup increased their price objective on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating 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 target on the stock in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Truist Financial set a $48.00 price objective on International Paper in a research report on Thursday, February 26th. Finally, Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.25.

International Paper 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.