Ceredex Value Advisors LLC Has $49.12 Million Stake in International Paper Company $IP

Ceredex Value Advisors LLC reduced its holdings in International Paper Company (NYSE:IP) by 34.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,058,713 shares of the basic materials company’s stock after selling 555,993 shares during the period. International Paper makes up about 1.1% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Ceredex Value Advisors LLC owned approximately 0.20% of International Paper worth $49,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of International Paper by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 64,047,079 shares of the basic materials company’s stock worth $2,971,784,000 after purchasing an additional 167,889 shares during the last quarter. Capital Research Global Investors boosted its holdings in International Paper by 7.5% during the third quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock worth $2,520,945,000 after buying an additional 3,768,772 shares during the last quarter. Capital International Investors grew its position in shares of International Paper by 51.4% during the 3rd quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock worth $2,272,966,000 after buying an additional 16,622,062 shares during the period. State Street Corp raised its position in shares of International Paper by 3.2% in the 2nd quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock valued at $1,376,175,000 after acquiring an additional 902,741 shares during the period. Finally, Geode Capital Management LLC boosted its stake in International Paper by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock worth $622,133,000 after acquiring an additional 294,296 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 2.9%

NYSE:IP opened at $38.37 on Tuesday. International Paper Company has a twelve month low of $35.56 and a twelve month high of $56.64. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $43.33 and a two-hundred day moving average price of $43.13. The company has a market cap of $20.32 billion, a P/E ratio of -5.72 and a beta of 1.09.

International Paper (NYSE:IP) last posted 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). The business 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%. International Paper’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. As a group, analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IP. UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and cut their target price for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Jefferies Financial Group raised their price target on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Finally, BNP Paribas Exane upgraded 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 report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, International Paper has a consensus rating of “Hold” and an average price target of $48.25.

Insider Transactions at International Paper

In other International Paper news, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction on Friday, January 30th. The shares were purchased at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the purchase, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% 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.