Alberta Investment Management Corp Makes New Investment in International Paper Company $IP

Alberta Investment Management Corp acquired a new stake in shares of International Paper Company (NYSE:IP) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 54,200 shares of the basic materials company’s stock, valued at approximately $2,515,000.

Other large investors have also modified their holdings of the company. AlphaQuest LLC increased its holdings in International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of International Paper during the 2nd quarter valued at about $33,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of International Paper during the 2nd quarter valued at about $35,000. CYBER HORNET ETFs LLC bought a new stake in International Paper in the second quarter valued at about $43,000. Finally, City Holding Co. acquired a new position in International Paper in the third quarter worth about $46,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Down 3.1%

Shares of NYSE IP opened at $46.98 on Friday. International Paper Company has a 1-year low of $35.56 and a 1-year high of $57.09. The company has a 50-day moving average of $42.46 and a two-hundred day moving average of $43.57. The company has a market cap of $24.81 billion, a PE ratio of -7.00 and a beta of 1.11. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business earned ($0.02) EPS. The business’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, equities analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BNP Paribas Exane raised International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, November 24th. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $36.00 to $40.00 in a research report on Friday, January 30th. Royal Bank Of Canada dropped their price objective on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Argus reduced their target price on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Finally, Truist Financial lowered their target price on shares of International Paper from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.25.

Insider Buying and Selling at International Paper

In other news, CEO Andrew K. Silvernail purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were acquired at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by 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.