Capital International Inc. CA Buys 345,821 Shares of International Paper Company $IP

Capital International Inc. CA boosted its stake in International Paper Company (NYSE:IP) by 100.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 689,724 shares of the basic materials company’s stock after buying an additional 345,821 shares during the period. Capital International Inc. CA owned approximately 0.13% of International Paper worth $32,003,000 as of its most recent filing with the SEC.

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

International Paper Trading Down 2.9%

Shares of NYSE:IP opened at $38.37 on Tuesday. The business’s 50 day simple moving average is $43.33 and its 200 day simple moving average is $43.13. International Paper Company has a 1 year low of $35.56 and a 1 year high of $56.64. 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 capitalization of $20.32 billion, a P/E 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 for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company 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%. International Paper’s revenue was up 53.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. On average, research analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

Insider Activity at International Paper

In related news, CEO Andrew K. Silvernail purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IP. Jefferies Financial Group boosted their price target on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Argus lowered their price objective on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Royal Bank Of Canada reduced their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Finally, Wells Fargo & Company raised shares of International Paper from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $36.00 to $40.00 in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently 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.