Rakuten Investment Management Inc. Acquires New Position in International Paper Company $IP

Rakuten Investment Management Inc. bought a new position in International Paper Company (NYSE:IP) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 44,252 shares of the basic materials company’s stock, valued at approximately $2,053,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. Dynamic Technology Lab Private Ltd bought a new stake in shares of International Paper in the 1st quarter worth approximately $249,000. Intech Investment Management LLC raised its position 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 during the period. Assenagon Asset Management S.A. lifted its stake in International Paper by 5.5% in the second quarter. Assenagon Asset Management S.A. now owns 23,604 shares of the basic materials company’s stock worth $1,105,000 after purchasing an additional 1,226 shares during the last quarter. GAMMA Investing LLC lifted its stake in International Paper by 36.2% in the second quarter. GAMMA Investing LLC now owns 7,390 shares of the basic materials company’s stock worth $346,000 after purchasing an additional 1,965 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in International Paper by 14.4% during the second quarter. Fifth Third Bancorp now owns 20,877 shares of the basic materials company’s stock valued at $978,000 after buying an additional 2,634 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

IP opened at $43.17 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a market capitalization of $22.80 billion, a PE ratio of -16.54, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. The stock’s 50 day moving average price is $39.77 and its 200-day moving average price is $44.45. International Paper Company has a 52-week low of $35.56 and a 52-week high of $60.15.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business’s revenue was up 56.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities research analysts predict that International Paper Company will post 2.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Wells Fargo & Company lowered their price objective on International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a research report on Friday, October 31st. UBS Group dropped their price objective on International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, January 12th. BNP Paribas Exane raised shares of 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of International Paper from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.07.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

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.