Capital World Investors Has $288.65 Million Stake in International Paper Company $IP

Key Points

• Capital World Investors raised its stake in International Paper (NYSE:IP) by 2.0% to 6,220,810 shares—about 1.18% of the company—valued at approximately $288.65 million per the latest 13F filing.
• CEO Andrew K. Silvernail purchased 50,000 shares on January 30 at $39.98 each (about $1.999 million), bringing insider ownership to roughly 0.35% of the stock.
• International Paper reported Q results with an EPS miss of ($0.08) versus consensus $0.28, while revenue of $6.01 billion beat estimates and rose 53.1% year-over-year, though the company showed a negative net margin (-14.12%).

Capital World Investors grew its holdings in International Paper Company (NYSE:IP - Free Report) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,220,810 shares of the basic materials company's stock after purchasing an additional 120,015 shares during the quarter. Capital World Investors owned about 1.18% of International Paper worth $288,646,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in International Paper during the 2nd quarter worth about $33,000. Elevation Point Wealth Partners LLC acquired a new position in shares of International Paper during the second quarter worth approximately $35,000. CYBER HORNET ETFs LLC acquired a new position in shares of International Paper during the second quarter worth approximately $43,000. City Holding Co. bought a new stake in shares of International Paper during the third quarter valued at approximately $46,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of International Paper in the third quarter valued at approximately $49,000. Institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on 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 International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, January 12th. Weiss Ratings restated a "sell (d+)" rating on shares of International Paper in a research report on Monday, December 29th. Stifel Nicolaus cut their price target on International Paper from $51.80 to $50.70 and set a "buy" rating on the stock in a research note on Monday, February 9th. Finally, Citigroup raised their price target on International Paper from $46.00 to $47.00 and gave the company a "buy" rating in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $48.25.

Insider Buying and Selling at International Paper

In related news, CEO Andrew K. Silvernail purchased 50,000 shares of International Paper stock in a transaction that occurred on Friday, January 30th. The stock was purchased 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 trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.35% of the stock is currently owned by company insiders.

International Paper Trading Down 1.2%

Shares of NYSE:IP opened at $38.62 on Thursday. The business's 50 day moving average price is $43.30 and its 200-day moving average price is $43.03. International Paper Company has a 1 year low of $35.56 and a 1 year high of $56.64. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of -5.76 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 posted its quarterly earnings data 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 company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The business's revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.