Advisors Preferred LLC Acquires New Holdings in International Paper Company $IP

Advisors Preferred LLC bought a new position in shares of International Paper Company (NYSE:IP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,542 shares of the basic materials company’s stock, valued at approximately $1,181,000.

Several other large investors have also recently bought and sold shares of the company. AlphaQuest LLC grew its position in shares of International Paper by 63,400.0% during the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in International Paper during the second quarter valued at $33,000. Elevation Point Wealth Partners LLC bought a new stake in International Paper during the second quarter valued at $35,000. CYBER HORNET ETFs LLC purchased a new position in International Paper during the second quarter worth about $43,000. Finally, City Holding Co. bought a new position in International Paper in the 3rd quarter worth about $46,000. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 0.1%

Shares of IP opened at $46.81 on Friday. The firm has a 50 day moving average price of $42.63 and a 200-day moving average price of $43.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $57.07. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of -6.98 and a beta of 1.11.

International Paper (NYSE:IP) last announced its quarterly earnings data 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). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was up 53.1% compared to the same quarter last year. As a group, equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Andrew K. Silvernail purchased 50,000 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer directly 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

IP has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $36.00 to $40.00 in a research report on Friday, January 30th. Stifel Nicolaus cut their price target on shares of International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research note on Monday, February 9th. JPMorgan Chase & Co. increased their price target on shares of International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Jefferies Financial Group lifted their price objective on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Citigroup upped their target price on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Eight 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 company. According to MarketBeat, International Paper currently has a consensus rating of “Hold” and a consensus 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.