BNP Paribas Financial Markets Has $233.82 Million Stake in International Paper Company $IP

Key Points

• BNP Paribas Financial Markets increased its stake in International Paper by 19.1% in Q3 to 5,039,300 shares (~0.95%), valued at about $233.82 million.
• CEO Andrew K. Silvernail purchased 50,000 shares on Jan. 30 for roughly $1.999 million (≈$39.98/share), bringing insider ownership to 0.55%.
• Quarterly results showed an EPS loss of ($0.08) vs. a $0.28 estimate despite revenue rising 53% YoY and beating expectations; the stock carries a consensus "Hold" rating with a $48.25 price target.

BNP Paribas Financial Markets raised its holdings in International Paper Company (NYSE:IP - Free Report) by 19.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,039,300 shares of the basic materials company's stock after purchasing an additional 809,727 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.95% of International Paper worth $233,824,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital International Investors lifted its holdings in 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 in the last quarter. Norges Bank bought a new stake in shares of International Paper during the second quarter worth $281,735,000. Capital Research Global Investors lifted its stake in shares of 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 valued at $2,520,945,000 after acquiring an additional 3,768,772 shares during the period. M&G PLC boosted its holdings in International Paper by 165.9% in the second quarter. M&G PLC now owns 3,220,070 shares of the basic materials company's stock valued at $150,553,000 after acquiring an additional 2,009,123 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in International Paper by 2.0% in the second quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company's stock worth $2,991,462,000 after purchasing an additional 1,255,650 shares during the period. Institutional investors own 81.95% of the company's stock.

Insider Activity

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the transaction, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is owned by company insiders.

International Paper Stock Performance

Shares of NYSE:IP opened at $39.05 on Wednesday. The firm's 50 day simple moving average is $43.32 and its 200 day simple moving average is $43.06. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $56.64. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of -5.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued 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 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 firm's revenue for the quarter 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. As a group, sell-side analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on IP. Truist Financial set a $48.00 target price on shares of International Paper in a research report on Thursday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of International Paper from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Royal Bank Of Canada cut their price objective on shares of International Paper from $55.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, January 30th. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, January 12th. Finally, Stifel Nicolaus dropped their target price on shares of International Paper from $51.80 to $50.70 and set a "buy" rating for the company in a research report on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $48.25.

International Paper 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.

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