Icon Advisers Inc. Co. Takes Position in International Paper Company $IP

Key Points

• Icon Advisers Inc. Co. acquired 104,600 shares of International Paper (≈ $4.85M) in Q3, representing about 1.1% of its holdings and making IP its 25th-largest position.
• CEO Andrew K. Silvernail bought 50,000 shares at an average $39.98 on Jan. 30 (≈ $2.0M), a notable insider purchase that increased his direct ownership.
• International Paper reported quarterly EPS of -$0.08 (missing the $0.28 consensus) while revenue rose 53.1% to $6.01B and net margin remained negative (-14.12%); the stock was down ~4.4% and analysts hold a consensus "Hold" with an average target of $48.25.

Icon Advisers Inc. Co. acquired a new stake in shares of International Paper Company (NYSE:IP - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 104,600 shares of the basic materials company's stock, valued at approximately $4,853,000. International Paper makes up about 1.1% of Icon Advisers Inc. Co.'s holdings, making the stock its 25th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC raised its stake in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company's stock worth $30,000 after acquiring an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of International Paper in the 2nd quarter valued at $33,000. Elevation Point Wealth Partners LLC bought a new position in shares of International Paper during the 2nd quarter valued at $35,000. CYBER HORNET ETFs LLC bought a new position in shares of International Paper during the 2nd quarter valued at $43,000. Finally, City Holding Co. purchased a new position in International Paper in the 3rd quarter worth $46,000. Institutional investors own 81.95% of the company's stock.

Insider Activity

In other International Paper news, CEO Andrew K. Silvernail bought 50,000 shares of the business's stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares of the company's stock, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is owned by insiders.

International Paper Trading Down 4.4%

NYSE:IP opened at $39.50 on Friday. The firm has a market capitalization of $20.91 billion, a P/E ratio of -5.89 and a beta of 1.09. 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 company has a fifty day moving average of $43.36 and a 200 day moving average of $43.25. International Paper Company has a 52 week low of $35.56 and a 52 week high of $56.64.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results 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). International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the business earned ($0.02) EPS. International Paper's revenue was up 53.1% on a year-over-year basis. On average, research analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company raised shares of International Paper from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $36.00 to $40.00 in a research note on Friday, January 30th. Jefferies Financial Group raised their price objective on International Paper from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. UBS Group downgraded International Paper from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Truist Financial set a $48.00 target price on International Paper in a research note on Thursday, February 26th. Finally, Argus dropped their target price on International Paper from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $48.25.

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.

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