Barclays PLC Acquires 259,371 Shares of International Paper Company $IP

Barclays PLC increased its holdings in International Paper Company (NYSE:IP) by 12.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,348,177 shares of the basic materials company’s stock after purchasing an additional 259,371 shares during the period. Barclays PLC owned approximately 0.44% of International Paper worth $108,955,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of International Paper by 0.3% during the 3rd 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 in the last quarter. State Street Corp raised its stake in shares of International Paper by 3.2% in 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 acquiring an additional 902,741 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 worth $622,133,000 after purchasing an additional 294,296 shares during the last quarter. Invesco Ltd. lifted its holdings in International Paper by 1.5% in the 2nd quarter. Invesco Ltd. now owns 8,160,930 shares of the basic materials company’s stock worth $382,176,000 after purchasing an additional 120,802 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in International Paper by 8.0% during the second quarter. Franklin Resources Inc. now owns 7,458,949 shares of the basic materials company’s stock worth $349,303,000 after purchasing an additional 555,588 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IP has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. UBS Group downgraded shares of International Paper from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Truist Financial set a $48.00 target price on shares of International Paper in a research note on Thursday, February 26th. Argus dropped their target price on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.25.

International Paper Price Performance

Shares of International Paper stock opened at $39.50 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The company has a market cap of $20.91 billion, a PE ratio of -5.89 and a beta of 1.09. The firm has a fifty day moving average price of $43.36 and a two-hundred day moving average price of $43.22. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $56.64.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The business’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. Analysts expect that International Paper Company will post 2.77 EPS for the current year.

Insiders Place Their Bets

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