DoubleLine ETF Adviser LP Makes New $2.11 Million Investment in International Paper (NYSE:IP)

DoubleLine ETF Adviser LP acquired a new stake in shares of International Paper (NYSE:IP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 39,126 shares of the basic materials company's stock, valued at approximately $2,106,000.

Other large investors have also bought and sold shares of the company. Barclays PLC lifted its position in International Paper by 4.5% during the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company's stock valued at $44,774,000 after acquiring an additional 39,404 shares during the period. Bard Financial Services Inc. bought a new position in shares of International Paper during the third quarter valued at approximately $305,000. World Investment Advisors LLC lifted its holdings in shares of International Paper by 6.1% during the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company's stock valued at $449,000 after purchasing an additional 529 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of International Paper in the 3rd quarter worth approximately $614,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of International Paper in the 3rd quarter worth approximately $895,000. 81.95% of the stock is owned by institutional investors.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. This trade represents a 19.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective for the company. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Paper currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.77.

International Paper Stock Down 3.4 %

IP traded down $1.55 during trading on Monday, hitting $44.29. The stock had a trading volume of 6,756,770 shares, compared to its average volume of 8,341,463. The stock has a 50 day simple moving average of $49.99 and a two-hundred day simple moving average of $53.56. The company has a market capitalization of $23.38 billion, a PE ratio of 28.21, a PEG ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a twelve month low of $36.22 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. During the same period last year, the firm earned $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% compared to the same quarter last year. On average, research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.