Anders Gustafsson Buys 12,875 Shares of International Paper (NYSE:IP) Stock

International Paper Company (NYSE:IP) Director Anders Gustafsson bought 12,875 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average cost of $38.84 per share, with a total value of $500,065.00. Following the purchase, the director directly owned 12,875 shares of the company’s stock, valued at $500,065. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Anders Gustafsson also recently made the following trade(s):

• On Thursday, March 12th, Anders Gustafsson bought 13,217 shares of International Paper stock. The shares were bought at an average price of $37.83 per share, for a total transaction of $499,999.11.

International Paper Stock Down 8.1%

IP stock traded down $3.14 during trading on Thursday, reaching $35.52. 6,252,903 shares of the stock were exchanged, compared to its average volume of 7,167,723. International Paper Company has a twelve month low of $35.45 and a twelve month high of $56.64. The firm’s 50 day moving average is $43.30 and its 200 day moving average is $43.03. 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 firm has a market cap of $18.81 billion, a P/E ratio of -5.29 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The company 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%. International Paper’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. As a group, research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

Institutional Investors Weigh In On International Paper

Several large investors have recently bought and sold shares of IP. Dynamic Technology Lab Private Ltd purchased a new stake in shares of International Paper during the 1st quarter valued at about $249,000. Intech Investment Management LLC lifted its holdings in International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after purchasing an additional 16,055 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of International Paper by 4.9% in the second quarter. Savant Capital LLC now owns 37,613 shares of the basic materials company’s stock worth $1,761,000 after buying an additional 1,752 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of International Paper by 65.0% during the 1st quarter. Summit Investment Advisors Inc. now owns 5,585 shares of the basic materials company’s stock valued at $298,000 after purchasing an additional 2,200 shares during the last quarter. Finally, AGF Management Ltd. purchased a new position in International Paper during the 2nd quarter valued at approximately $258,000. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of a number of analyst reports. Citigroup raised their price target on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. BNP Paribas Exane upgraded International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Monday, November 24th. Royal Bank Of Canada reduced their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Finally, Truist Financial set a $48.00 price target on International Paper in a research note on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently 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.