Capital Group Private Client Services Inc. Sells 149,390 Shares of International Paper Company $IP

Capital Group Private Client Services Inc. reduced its stake in shares of International Paper Company (NYSE:IP) by 74.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,760 shares of the basic materials company’s stock after selling 149,390 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in International Paper were worth $2,355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AE Wealth Management LLC lifted its position in shares of International Paper by 8.5% during the 3rd quarter. AE Wealth Management LLC now owns 332,310 shares of the basic materials company’s stock worth $15,419,000 after buying an additional 26,146 shares during the period. Westfield Capital Management Co. LP boosted its stake in International Paper by 9.7% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock valued at $108,819,000 after buying an additional 205,888 shares in the last quarter. Caprock Group LLC bought a new stake in International Paper in the third quarter valued at $2,340,000. Norges Bank acquired a new position in International Paper during the second quarter worth $281,735,000. Finally, Tableaux LLC acquired a new position in International Paper during the second quarter worth $2,342,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

Shares of IP stock opened at $39.05 on Wednesday. International Paper Company has a 52 week low of $35.56 and a 52 week high of $56.64. The stock has a market capitalization of $20.68 billion, a PE ratio of -5.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. The stock’s fifty day moving average is $43.32 and its 200-day moving average is $43.06.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (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 business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the firm earned ($0.02) earnings per share. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. Equities research analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In related news, CEO Andrew K. Silvernail bought 50,000 shares of International Paper stock in a transaction dated Friday, January 30th. The shares were bought at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on IP shares. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Wells Fargo & Company upgraded shares of International Paper from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $36.00 to $40.00 in a research report on Friday, January 30th. BNP Paribas Exane raised shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Monday, November 24th. Jefferies Financial Group upped their price objective on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a report on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.25.

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.