International Paper (NYSE:IP) Director Buys $500,065.00 in Stock

International Paper Company (NYSE:IP) Director Anders Gustafsson acquired 12,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average cost of $38.84 per share, with a total value of $500,065.00. Following the purchase, the director directly owned 12,875 shares in the company, valued at approximately $500,065. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Anders Gustafsson also recently made the following trade(s):

• On Thursday, March 12th, Anders Gustafsson bought 13,217 shares of International Paper stock. The shares were purchased at an average cost of $37.83 per share, for a total transaction of $499,999.11.

International Paper Price Performance

IP opened at $37.30 on Friday. The stock has a fifty day moving average of $43.17 and a 200-day moving average of $42.85. The firm has a market capitalization of $19.75 billion, a P/E ratio of -5.56 and a beta of 1.09. International Paper Company has a 12-month low of $35.45 and a 12-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.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. Equities analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IP. BNP Paribas Exane upgraded 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. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Wells Fargo & Company upgraded shares of International Paper from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $36.00 to $40.00 in a research note on Friday, January 30th. Finally, UBS Group downgraded 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 research report on Monday, February 2nd. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.25.

Institutional Trading of International Paper

Several large investors have recently modified their holdings of IP. MCF Advisors LLC lifted its position in International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 229 shares during the last quarter. Rothschild Investment LLC grew its position in shares of International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock valued at $236,000 after purchasing an additional 242 shares during the last quarter. International Private Wealth Advisors LLC grew its position in shares of International Paper by 4.1% in the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 243 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of International Paper by 3.3% in the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 244 shares during the period. Finally, Atalanta Sosnoff Capital LLC increased its stake in shares of International Paper by 3.8% in the second quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 245 shares during the period. 81.95% of the stock is owned by institutional investors.

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.