International Paper Company $IP Stock Position Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its position in International Paper Company (NYSE:IP) by 22.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 126,499 shares of the basic materials company’s stock after selling 35,847 shares during the period. Commonwealth Equity Services LLC’s holdings in International Paper were worth $5,870,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of International Paper during the second quarter valued at $281,735,000. M&G PLC lifted its stake in International Paper by 165.9% in the 2nd quarter. M&G PLC now owns 3,220,070 shares of the basic materials company’s stock worth $150,553,000 after acquiring an additional 2,009,123 shares in the last quarter. Bank of New York Mellon Corp boosted its position in International Paper by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after acquiring an additional 1,592,411 shares during the period. Sound Shore Management Inc CT purchased a new position in International Paper during the 2nd quarter valued at about $69,208,000. Finally, Vanguard Group Inc. grew its stake in International Paper by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock valued at $2,991,462,000 after acquiring an additional 1,255,650 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

International Paper Trading Up 0.7%

International Paper stock opened at $42.84 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of -16.41, a PEG ratio of 0.48 and a beta of 1.10. International Paper Company has a one year low of $35.56 and a one year high of $60.15. The company’s fifty day moving average price is $39.07 and its two-hundred day moving average price is $44.75.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The company had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.International Paper’s quarterly revenue was up 56.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. On average, analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on IP. UBS Group decreased their price target on shares of International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a report on Monday. Citigroup cut their target price on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Wells Fargo & Company dropped their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.65.

About International Paper

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.