Barclays PLC Purchases 259,371 Shares of International Paper Company $IP

Barclays PLC boosted its holdings in shares of International Paper Company (NYSE:IP) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,348,177 shares of the basic materials company’s stock after buying an additional 259,371 shares during the period. Barclays PLC’s holdings in International Paper were worth $108,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of International Paper by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,466,933 shares of the basic materials company’s stock valued at $207,249,000 after buying an additional 160,202 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of International Paper by 1.9% during the 3rd quarter. Cresset Asset Management LLC now owns 17,676 shares of the basic materials company’s stock valued at $820,000 after acquiring an additional 331 shares in the last quarter. Rafferty Asset Management LLC increased its stake in International Paper by 0.6% in the third quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company’s stock valued at $2,088,000 after acquiring an additional 268 shares during the period. Gentry Private Wealth LLC increased its stake in International Paper by 3.1% in the third quarter. Gentry Private Wealth LLC now owns 9,651 shares of the basic materials company’s stock valued at $448,000 after acquiring an additional 294 shares during the period. Finally, Erste Asset Management GmbH raised its position in International Paper by 5.7% in the third quarter. Erste Asset Management GmbH now owns 121,700 shares of the basic materials company’s stock worth $5,608,000 after purchasing an additional 6,600 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on IP. Argus cut their price target on shares of International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Jefferies Financial Group increased their target price on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Stifel Nicolaus cut their target price on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price target on International Paper from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Eight 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.25.

International Paper Stock Down 4.4%

NYSE:IP opened at $39.50 on Friday. The company has a market cap of $20.91 billion, a price-to-earnings ratio of -5.89 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. The stock’s fifty day moving average price is $43.36 and its two-hundred day moving average price is $43.22. International Paper Company has a 52-week low of $35.56 and a 52-week high of $56.64.

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 the consensus estimate of $0.28 by ($0.36). The firm 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%. The firm’s quarterly revenue was up 53.1% on a year-over-year basis. During the same period last year, the business posted ($0.02) earnings per share. On average, analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

Insider Transactions at International Paper

In other news, CEO Andrew K. Silvernail purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were acquired at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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.