Pictet Asset Management Holding SA Trims Stake in International Paper Company $IP

Key Points

• Pictet Asset Management trimmed its stake in International Paper by 10.3% in Q4 to 1,319,587 shares (about $51.98M), leaving it with roughly 0.25% of the company; institutional investors hold about 81.95% of IP.
• International Paper missed Q4 EPS expectations (reported ($0.08) vs. $0.28 est.) but revenue rose 53.1% year-over-year to $6.01B and beat estimates; the company still shows negative profitability metrics (net margin -14.12%, negative P/E).
• Despite some institutional selling, insiders — including CEO Andrew Silvernail and a director — made recent purchases (insiders bought 76,092 shares in the last three months, ~ $3M), while analysts' average target is $45.48 with a consensus rating of "Hold" versus the current share price near $34.

Pictet Asset Management Holding SA lowered its stake in shares of International Paper Company (NYSE:IP - Free Report) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,319,587 shares of the basic materials company's stock after selling 151,306 shares during the quarter. Pictet Asset Management Holding SA owned about 0.25% of International Paper worth $51,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of IP. Dynamic Technology Lab Private Ltd bought a new stake in International Paper during the first quarter worth about $249,000. Intech Investment Management LLC boosted its stake in International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company's stock worth $1,709,000 after acquiring an additional 16,055 shares in the last quarter. Cresset Asset Management LLC boosted its stake in International Paper by 20.8% during the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company's stock worth $812,000 after acquiring an additional 2,981 shares in the last quarter. Jump Financial LLC boosted its stake in International Paper by 280.9% during the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company's stock worth $1,784,000 after acquiring an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in International Paper by 8.0% during the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company's stock worth $1,580,000 after acquiring an additional 2,493 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Stock Performance

IP opened at $34.06 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The company has a market cap of $18.03 billion, a price-to-earnings ratio of -5.08 and a beta of 1.14. The company's 50 day moving average is $37.88 and its 200 day moving average is $40.24. International Paper Company has a 12-month low of $32.13 and a 12-month high of $56.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.36). The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 53.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. On average, equities research analysts predict that International Paper Company will post 1.65 EPS for the current year.

Insider Buying and Selling

In other International Paper news, CEO Andrew K. Silvernail acquired 50,000 shares of the company's stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the acquisition, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anders Gustafsson acquired 13,217 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the acquisition, the director owned 26,092 shares of the company's stock, valued at $987,060.36. The trade was a 102.66% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 76,092 shares of company stock worth $2,999,064. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of International Paper in a research note on Wednesday, April 1st. They set a "hold" rating and a $38.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of International Paper from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Friday, March 20th. Jefferies Financial Group lifted their target price on shares of International Paper from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of International Paper from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $45.48.

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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