Strategic Advisors LLC bought a new position in International Paper Co (NYSE:IP) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 47,461 shares of the basic materials company’s stock, valued at approximately $2,196,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Republic Investment Management Inc. increased its stake in International Paper by 65.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 24,698 shares of the basic materials company’s stock valued at $1,213,000 after buying an additional 9,775 shares during the last quarter. LPL Financial LLC increased its stake in International Paper by 18.2% in the 3rd quarter. LPL Financial LLC now owns 172,633 shares of the basic materials company’s stock valued at $8,485,000 after buying an additional 26,528 shares during the last quarter. Paloma Partners Management Co increased its stake in International Paper by 85.1% in the 3rd quarter. Paloma Partners Management Co now owns 25,252 shares of the basic materials company’s stock valued at $1,242,000 after buying an additional 11,611 shares during the last quarter. Pacer Advisors Inc. increased its stake in International Paper by 13.9% in the 3rd quarter. Pacer Advisors Inc. now owns 21,735 shares of the basic materials company’s stock valued at $1,068,000 after buying an additional 2,652 shares during the last quarter. Finally, MUFG Americas Holdings Corp increased its stake in International Paper by 9.2% in the 3rd quarter. MUFG Americas Holdings Corp now owns 13,604 shares of the basic materials company’s stock valued at $669,000 after buying an additional 1,144 shares during the last quarter. Institutional investors own 81.58% of the company’s stock.
Several research firms have commented on IP. Royal Bank of Canada increased their price objective on shares of International Paper to $54.00 and gave the company an “outperform” rating in a research note on Friday, February 1st. Citigroup reiterated a “buy” rating and issued a $53.00 price objective on shares of International Paper in a research note on Friday, February 1st. Barclays decreased their price objective on shares of International Paper from $40.00 to $39.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. UBS Group decreased their price target on shares of International Paper from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $53.00.
Shares of IP stock traded down $0.68 during trading hours on Monday, hitting $47.08. 69,902 shares of the company were exchanged, compared to its average volume of 2,769,090. The company has a quick ratio of 1.01, a current ratio of 1.49 and a debt-to-equity ratio of 1.36. International Paper Co has a 52-week low of $37.55 and a 52-week high of $59.57. The firm has a market cap of $19.18 billion, a P/E ratio of 8.87, a PEG ratio of 0.96 and a beta of 1.57.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 31st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.04. International Paper had a net margin of 8.63% and a return on equity of 30.83%. The company had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.86 billion. As a group, equities analysts expect that International Paper Co will post 5.14 EPS for the current year.
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About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.
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