AGF Management Ltd. Increases Position in International Paper Company $IP

AGF Management Ltd. lifted its position in shares of International Paper Company (NYSE:IP) by 424.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,845 shares of the basic materials company’s stock after purchasing an additional 23,345 shares during the period. AGF Management Ltd.’s holdings in International Paper were worth $1,338,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IP. AlphaQuest LLC boosted its position in shares of International Paper by 63,400.0% during the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in International Paper during the second quarter worth approximately $33,000. Elevation Point Wealth Partners LLC acquired a new position in International Paper in the second quarter valued at approximately $35,000. CYBER HORNET ETFs LLC acquired a new position in International Paper in the second quarter valued at approximately $43,000. Finally, Private Wealth Asset Management LLC increased its stake in International Paper by 78.7% in the second quarter. Private Wealth Asset Management LLC now owns 997 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP opened at $44.32 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $57.55. The firm has a 50-day simple moving average of $40.56 and a 200-day simple moving average of $43.86. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of -6.61, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. On average, equities research analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other news, CEO Andrew K. Silvernail purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Clay R. Ellis sold 18,819 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The SEC filing for this sale provides additional information. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on IP shares. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Stifel Nicolaus set a $57.80 price objective on International Paper and gave the stock a “buy” rating in a report on Friday, October 17th. UBS Group downgraded International Paper from a “buy” rating to a “neutral” rating and reduced their target price for the company from $51.00 to $44.00 in a report on Monday. Finally, Jefferies Financial Group raised their price target on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, International Paper currently has a consensus rating of “Hold” and an average price target of $48.89.

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.