Federated Hermes Inc. Boosts Holdings in International Paper (NYSE:IP)

Federated Hermes Inc. lifted its stake in shares of International Paper (NYSE:IP) by 22,689.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 273,929 shares of the basic materials company’s stock after buying an additional 272,727 shares during the period. Federated Hermes Inc.’s holdings in International Paper were worth $9,903,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Greenhaven Associates Inc. raised its holdings in International Paper by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after purchasing an additional 25,640 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after acquiring an additional 1,011,315 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in International Paper during the 3rd quarter valued at about $144,509,000. Northern Trust Corp boosted its stake in International Paper by 4.4% during the third quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock worth $128,246,000 after acquiring an additional 151,084 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after purchasing an additional 777,273 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Stock Down 1.0 %

International Paper stock opened at $34.41 on Wednesday. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28. The stock has a fifty day simple moving average of $36.72 and a two-hundred day simple moving average of $35.84. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the firm posted $0.87 earnings per share. International Paper’s revenue was down 10.4% compared to the same quarter last year. Equities analysts predict that International Paper will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 8,800 shares of company stock worth $310,438. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IP shares. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Wells Fargo & Company cut their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, International Paper presently has a consensus rating of “Hold” and a consensus target price of $37.13.

About International Paper

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.