Northern Trust Corp Purchases 414,069 Shares of International Paper (NYSE:IP)

Northern Trust Corp boosted its holdings in International Paper (NYSE:IP - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,542,211 shares of the basic materials company's stock after buying an additional 414,069 shares during the quarter. Northern Trust Corp owned approximately 1.02% of International Paper worth $190,642,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IP. SPC Financial Inc. grew its holdings in International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after acquiring an additional 200 shares during the period. AlphaMark Advisors LLC increased its holdings in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after purchasing an additional 204 shares in the last quarter. Inspire Advisors LLC lifted its stake in International Paper by 1.7% in the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock valued at $665,000 after buying an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 205 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after purchasing an additional 212 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a "neutral" rating for the company. Wells Fargo & Company lowered their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.77.

International Paper Stock Performance

IP traded up $0.01 during trading on Wednesday, hitting $44.46. 1,064,207 shares of the company traded hands, compared to its average volume of 8,220,990. International Paper has a one year low of $38.10 and a one year high of $60.36. The stock's fifty day moving average is $49.52 and its 200 day moving average is $53.48. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market cap of $23.47 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. During the same quarter in the previous year, the business earned $0.17 EPS. The company's revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.