Vanguard Group Inc. Purchases 310,834 Shares of International Paper Company $IP

Key Points

• Vanguard Group Inc. bought an additional 310,834 shares, raising its position to 64,357,913 shares—about 12.19% of International Paper valued at roughly $2.54 billion per the latest SEC filing.
• Company insiders increased holdings recently, with Director Anders Gustafsson acquiring 13,217 shares at $37.83 and CEO Andrew K. Silvernail buying 50,000 shares at $39.98; insiders bought 76,092 shares (~$3.0M) in the last quarter and now own 0.21% of the stock.
• International Paper reported a quarterly loss of ($0.08) EPS versus a $0.28 consensus (revenue $6.01B, +53.1% YoY), the stock trades near $33.49, and analysts’ consensus is a "Hold" with an average target of $45.48.

Vanguard Group Inc. increased its position in International Paper Company (NYSE:IP - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,357,913 shares of the basic materials company's stock after purchasing an additional 310,834 shares during the quarter. Vanguard Group Inc. owned approximately 12.19% of International Paper worth $2,535,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC grew its stake in International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company's stock worth $31,000 after purchasing an additional 344 shares in the last quarter. Kelleher Financial Advisors bought a new position in International Paper in the third quarter worth approximately $36,000. City Holding Co. bought a new stake in International Paper during the 3rd quarter valued at $46,000. Atlantic Union Bankshares Corp bought a new stake in International Paper during the 3rd quarter valued at $49,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in International Paper during the 3rd quarter valued at $56,000. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In other International Paper news, Director Anders Gustafsson acquired 13,217 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the acquisition, the director owned 26,092 shares in the company, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew K. Silvernail acquired 50,000 shares of the firm's stock in a transaction dated Friday, January 30th. The shares were acquired at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the acquisition, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 76,092 shares of company stock valued at $2,999,064. Company insiders own 0.21% of the company's stock.

International Paper Stock Down 1.6%

Shares of NYSE IP opened at $33.49 on Thursday. International Paper Company has a 12-month low of $32.13 and a 12-month high of $56.13. The stock's fifty day simple moving average is $37.58 and its two-hundred day simple moving average is $40.19. 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 stock has a market capitalization of $17.73 billion, a PE ratio of -4.99 and a beta of 1.14.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data 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). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The business had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.90 billion. During the same quarter in the prior year, the company posted ($0.02) EPS. The business's revenue for the quarter was up 53.1% on a year-over-year basis. As a group, analysts expect that International Paper Company will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on IP. Truist Financial dropped their target price on International Paper from $48.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Stifel Nicolaus dropped their target price on International Paper from $51.80 to $50.70 and set a "buy" rating on the stock in a research report on Monday, February 9th. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 23rd. Jefferies Financial Group increased their target price on International Paper from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings cut International Paper from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.48.

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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