International Paper Company $IP Shares Sold by BCK Capital Management LP

BCK Capital Management LP decreased its position in shares of International Paper Company (NYSE:IP) by 73.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,608 shares of the basic materials company’s stock after selling 23,849 shares during the quarter. BCK Capital Management LP’s holdings in International Paper were worth $399,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Alberta Investment Management Corp acquired a new stake in International Paper in the third quarter valued at $2,515,000. Colrain Capital LLC increased its holdings in International Paper by 57.7% during the 3rd quarter. Colrain Capital LLC now owns 125,780 shares of the basic materials company’s stock valued at $5,836,000 after acquiring an additional 46,030 shares in the last quarter. NEOS Investment Management LLC increased its holdings in International Paper by 53.8% during the 3rd quarter. NEOS Investment Management LLC now owns 46,614 shares of the basic materials company’s stock valued at $2,163,000 after acquiring an additional 16,313 shares in the last quarter. Vanguard Group Inc. raised its position in International Paper by 0.3% during the third quarter. Vanguard Group Inc. now owns 64,047,079 shares of the basic materials company’s stock worth $2,971,784,000 after acquiring an additional 167,889 shares during the last quarter. Finally, Phillips Wealth Planners LLC purchased a new stake in shares of International Paper in the third quarter valued at about $233,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IP. Royal Bank Of Canada cut their price objective on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Stifel Nicolaus cut their price target on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a report on Monday, February 9th. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Wells Fargo & Company raised shares of International Paper from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $36.00 to $40.00 in a research note on Friday, January 30th. Finally, BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.25.

International Paper Stock Performance

NYSE IP opened at $46.81 on Friday. The business’s 50-day moving average price is $42.63 and its 200 day moving average price is $43.58. 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 Company has a twelve month low of $35.56 and a twelve month high of $57.07. The company has a market capitalization of $24.72 billion, a PE ratio of -6.98 and a beta of 1.11.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) EPS 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 for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the company earned ($0.02) EPS. The company’s revenue was up 53.1% compared to the same quarter last year. On average, research analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

Insider Activity

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was acquired at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

International Paper Company 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.