CIBC Bancorp USA Inc. Takes Position in International Paper Company $IP

CIBC Bancorp USA Inc. bought a new stake in shares of International Paper Company (NYSE:IP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 321,350 shares of the basic materials company’s stock, valued at approximately $14,911,000. CIBC Bancorp USA Inc. owned 0.06% of International Paper at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Danske Bank A S bought a new stake in International Paper during the 3rd quarter valued at $9,905,000. Advisory Services Network LLC grew its holdings in International Paper by 10.7% in the 3rd quarter. Advisory Services Network LLC now owns 9,370 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 907 shares during the last quarter. Icon Advisers Inc. Co. purchased a new position in shares of International Paper in the third quarter valued at about $4,853,000. Kestra Private Wealth Services LLC raised its stake in shares of International Paper by 25.1% during the third quarter. Kestra Private Wealth Services LLC now owns 16,537 shares of the basic materials company’s stock valued at $767,000 after acquiring an additional 3,318 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of International Paper by 1.8% during the third quarter. NewEdge Advisors LLC now owns 38,244 shares of the basic materials company’s stock valued at $1,774,000 after acquiring an additional 690 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Anders Gustafsson purchased 13,217 shares of International Paper stock in a transaction dated Thursday, March 12th. The stock was purchased at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the acquisition, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. The trade was a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the purchase, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 76,092 shares of company stock valued at $2,999,064. 0.35% of the stock is owned by corporate insiders.

International Paper Stock Down 5.2%

Shares of International Paper stock opened at $34.03 on Friday. International Paper Company has a 1 year low of $33.65 and a 1 year high of $56.64. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of -5.07 and a beta of 1.09. The company has a 50-day moving average of $42.80 and a 200 day moving average of $42.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings data 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 return on equity of 0.35% and a negative net margin of 14.12%.The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter last year, the company posted ($0.02) EPS. International Paper’s revenue for the quarter was up 53.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Argus cut their target price on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. UBS Group lowered International Paper from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $51.00 to $44.00 in a research report on Monday, February 2nd. Citigroup boosted their target price on International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, January 30th. 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, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.