Recent Investor Activity in International Paper
Several institutional investors and hedge funds have recently changed their stakes in International Paper (IP). For instance:
– Bridgefront Capital increased its holdings by 103%, now owning 14,729 shares worth $532,000.
– Quarry LP raised its stake by 317.5%, owning 1,528 shares valued at $55,000.
– V Square Quantitative Management boosted its position by 99.4%, holding 17,674 shares now worth $639,000.
– Neo Ivy Capital invested $80,000 for a new stake.
– Royal London Asset Management increased its share count by 4.5%, now owning 279,590 shares valued at $10.1 million.
Overall, institutional investors own 81.95% of the company’s shares.
Insider Trading Updates
Recently, Director Kathryn D. Sullivan sold 600 shares at $46.26, totaling $27,756. She now owns 41,602 shares valued at around $1.9 million. On September 12, SVP Joseph R. Saab sold 2,440 shares at $47.30 for a total of $115,412 and currently holds 18,668 shares valued at about $883,000. In total, insiders sold 19,440 shares worth $931,502 in the last three months, holding 0.55% of the stock.
Stock Performance
As of Thursday, IP stock opened at $47.10. The company has a market cap of $16.36 billion, a P/E ratio of 96.12, and a beta of 1.04. It hit a 12-month low of $31.76 and a high of $50.68. Earnings per share (EPS) for the last quarter was $0.55, exceeding analysts’ expectations of $0.41, while revenue was slightly below expectations at $4.73 billion.
Analyst Ratings
Analysts have recently upgraded IP’s shares, with seven maintaining a buy rating and three a hold rating. The average target price is $50.21. Notable upgrades include:
– Seaport Res Ptn: upgraded from “hold” to “strong-buy”
– Truist Financial: target raised from $52 to $55
– Royal Bank of Canada: target raised from $52 to $56.
About International Paper
International Paper produces renewable fiber-based packaging and pulp products globally. It operates in two main segments: Industrial Packaging and Global Cellulose Fibers.
See Also
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