Colrain Capital LLC Buys 46,030 Shares of International Paper Company $IP

Colrain Capital LLC increased its position in International Paper Company (NYSE:IP) by 57.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,780 shares of the basic materials company’s stock after purchasing an additional 46,030 shares during the quarter. International Paper makes up about 3.3% of Colrain Capital LLC’s portfolio, making the stock its 15th biggest position. Colrain Capital LLC’s holdings in International Paper were worth $5,836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NEOS Investment Management LLC grew its position in shares of International Paper by 53.8% during the 3rd quarter. NEOS Investment Management LLC now owns 46,614 shares of the basic materials company’s stock worth $2,163,000 after buying an additional 16,313 shares in the last quarter. Vanguard Group Inc. increased its position in International Paper by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 64,047,079 shares of the basic materials company’s stock valued at $2,971,784,000 after purchasing an additional 167,889 shares during the period. Phillips Wealth Planners LLC bought a new stake in shares of International Paper in the 3rd quarter valued at about $233,000. State of New Jersey Common Pension Fund D lifted its position in shares of International Paper by 1.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 172,175 shares of the basic materials company’s stock worth $7,989,000 after purchasing an additional 3,004 shares during the period. Finally, GenTrust LLC bought a new position in shares of International Paper during the third quarter valued at approximately $706,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

Shares of IP opened at $49.17 on Tuesday. 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 $25.96 billion, a PE ratio of -7.33 and a beta of 1.11. International Paper Company has a 12 month low of $35.56 and a 12 month high of $57.55. The stock has a fifty day moving average price of $41.88 and a 200-day moving average price of $43.49.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 0.35% and a negative net margin of 14.12%.The firm’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.02) earnings per share. Equities research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were acquired at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the acquisition, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their price objective on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Argus reduced their price target on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Citigroup boosted their price target on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Stifel Nicolaus dropped their price objective on International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research report on Monday, February 9th. Finally, BNP Paribas Exane upgraded International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.