International Paper Company $IP Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its holdings in shares of International Paper Company (NYSE:IP) by 21.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,935 shares of the basic materials company’s stock after purchasing an additional 15,321 shares during the period. Metis Global Partners LLC’s holdings in International Paper were worth $4,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its position in shares of International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after buying an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in International Paper during the 2nd quarter worth approximately $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the second quarter valued at approximately $35,000. CYBER HORNET ETFs LLC purchased a new stake in shares of International Paper during the second quarter valued at approximately $43,000. Finally, City Holding Co. acquired a new position in shares of International Paper during the third quarter worth $46,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IP. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Royal Bank Of Canada lowered their target price on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Citigroup boosted their price target on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Finally, Argus cut their target price on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.25.

International Paper Stock Performance

Shares of NYSE IP opened at $49.17 on Friday. The stock has a market capitalization of $25.96 billion, a P/E ratio of -7.33 and a beta of 1.11. The stock’s 50 day moving average price is $41.67 and its two-hundred day moving average price is $43.62. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. International Paper Company has a 52-week low of $35.56 and a 52-week high of $57.55.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36). The firm had revenue of $6.01 billion for 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 business’s revenue was up 53.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In other International Paper news, CEO Andrew K. Silvernail bought 50,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total value of $693,480.15. The disclosure for this sale is available in the SEC filing. Company insiders own 0.35% of the company’s stock.

About International Paper

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.