International Paper Company $IP Shares Bought by Franklin Resources Inc.

Key Points

• Franklin Resources increased its stake in International Paper by 9.5% in Q3 to 8,168,966 shares (about 1.55% of the company), valued at roughly $379 million.
• CEO Andrew K. Silvernail bought 50,000 shares at an average price of $39.98 (≈$2.0 million), and insiders collectively own about 0.35% of the stock.
• International Paper posted an EPS miss for the quarter (−$0.08 vs. $0.28 expected) despite revenue rising to $6.01 billion, and analysts are mixed with an average "Hold" rating and a $48.25 price target.

Franklin Resources Inc. grew its stake in International Paper Company (NYSE:IP - Free Report) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,168,966 shares of the basic materials company's stock after purchasing an additional 710,017 shares during the quarter. Franklin Resources Inc. owned approximately 1.55% of International Paper worth $379,040,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in International Paper in the second quarter worth about $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper during the second quarter valued at approximately $35,000. CYBER HORNET ETFs LLC bought a new position in International Paper during the 2nd quarter worth approximately $43,000. City Holding Co. bought a new position in International Paper during the 3rd quarter worth approximately $46,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of International Paper in the 3rd quarter worth approximately $49,000. Institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IP shares. Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, January 12th. Royal Bank Of Canada decreased their price objective on shares of International Paper from $55.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, January 30th. UBS Group lowered shares of International Paper from a "buy" rating to a "neutral" rating and lowered their target price for the company from $51.00 to $44.00 in a research note on Monday, February 2nd. Wells Fargo & Company raised shares of International Paper from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $36.00 to $40.00 in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. raised 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. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $48.25.

Insider Activity

In other International Paper news, CEO Andrew K. Silvernail purchased 50,000 shares of the firm's stock in a transaction dated Friday, January 30th. The stock was bought at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the purchase, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company's stock.

International Paper Stock Performance

Shares of NYSE IP opened at $38.62 on Thursday. International Paper Company has a 12-month low of $35.56 and a 12-month high of $56.64. The company has a market cap of $20.45 billion, a PE ratio of -5.76 and a beta of 1.09. The stock has a 50 day simple moving average of $43.30 and a 200-day simple moving average of $43.03. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). The business had revenue of $6.01 billion during 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 was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, equities research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

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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