Swiss Life Asset Management Ltd Raises Holdings in International Paper Company $IP

Key Points

• Swiss Life Asset Management sharply increased its stake in International Paper, boosting holdings by 175.9% in the fourth quarter to 421,210 shares worth about $16.6 million.
• Insiders have been buying shares: directors Scott Tozier and Anders Gustafsson both made recent purchases, and insiders bought 36,092 shares worth $1.31 million over the last 90 days.
• International Paper missed earnings and revenue expectations in its latest quarter, reporting $0.15 EPS on $5.97 billion in revenue, while analysts now see a consensus price target of $43.73 and a “Moderate Buy” rating.

Swiss Life Asset Management Ltd grew its holdings in International Paper Company (NYSE:IP - Free Report) by 175.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 421,210 shares of the basic materials company's stock after buying an additional 268,526 shares during the quarter. Swiss Life Asset Management Ltd owned approximately 0.08% of International Paper worth $16,591,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, Director Scott Tozier bought 10,000 shares of the stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, the director directly owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anders Gustafsson acquired 13,217 shares of International Paper stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the transaction, the director owned 26,092 shares in the company, valued at $987,060.36. This represents a 102.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 36,092 shares of company stock valued at $1,313,064. 0.21% of the stock is currently owned by company insiders.

International Paper Trading Down 1.7%

IP opened at $32.48 on Tuesday. The stock has a market cap of $17.20 billion, a PE ratio of -5.11 and a beta of 0.93. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $36.08 and a 200-day moving average of $39.53. International Paper Company has a 52 week low of $29.45 and a 52 week high of $56.13.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analysts' expectations of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Equities research analysts predict that International Paper Company will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IP shares. Royal Bank Of Canada dropped their price objective on International Paper from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, May 1st. UBS Group dropped their price objective on International Paper from $40.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, May 4th. BNP Paribas Exane dropped their price objective on International Paper from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a report on Thursday, April 23rd. Finally, Wells Fargo & Company upgraded International Paper from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $38.00 to $39.00 in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.73.

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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