Massachusetts Financial Services Co. MA Sells 82,427 Shares of International Paper Company $IP

Massachusetts Financial Services Co. MA reduced its position in International Paper Company (NYSE:IP) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,834,791 shares of the basic materials company’s stock after selling 82,427 shares during the period. Massachusetts Financial Services Co. MA owned 0.73% of International Paper worth $177,934,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in International Paper by 2.0% in the second quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock worth $2,991,462,000 after purchasing an additional 1,255,650 shares during the period. State Street Corp lifted its position in International Paper by 3.2% during the 2nd quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock valued at $1,376,175,000 after purchasing an additional 902,741 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after purchasing an additional 1,592,411 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of International Paper by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock valued at $622,133,000 after purchasing an additional 294,296 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of International Paper by 1.5% during the 2nd quarter. Invesco Ltd. now owns 8,160,930 shares of the basic materials company’s stock worth $382,176,000 after buying an additional 120,802 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 0.5%

Shares of NYSE IP opened at $43.43 on Tuesday. International Paper Company has a twelve month low of $35.56 and a twelve month high of $60.15. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of -16.64, a P/E/G ratio of 0.49 and a beta of 1.10. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $39.42 and its 200-day moving average is $44.59.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IP shares. Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the company a “buy” rating in a report on Friday, October 17th. Citigroup dropped 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. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Argus decreased their price objective on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.65.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

International Paper 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.