Caprock Group LLC Invests $2.34 Million in International Paper Company $IP

Caprock Group LLC bought a new position in shares of International Paper Company (NYSE:IP) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 46,495 shares of the basic materials company’s stock, valued at approximately $2,340,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Dynamic Technology Lab Private Ltd purchased a new stake in International Paper during the first quarter worth approximately $249,000. Intech Investment Management LLC lifted its holdings in shares of International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after acquiring an additional 16,055 shares in the last quarter. Blue Trust Inc. boosted its position in International Paper by 10.1% during the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 259 shares during the period. Aberdeen Group plc increased its holdings in International Paper by 0.5% in the 2nd quarter. Aberdeen Group plc now owns 165,295 shares of the basic materials company’s stock valued at $7,741,000 after purchasing an additional 793 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in International Paper by 6.4% in the second quarter. Apollon Wealth Management LLC now owns 6,744 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 0.0%

IP stock opened at $49.18 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $41.47 and a 200-day simple moving average of $43.67. The company has a market capitalization of $25.97 billion, a P/E ratio of -7.33 and a beta of 1.11. International Paper Company has a twelve month low of $35.56 and a twelve month high of $57.55.

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). 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 net margin of 14.12% and a negative return on equity of 0.35%. The company’s revenue was up 53.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. On average, equities research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average cost of $39.98 per share, with a total value 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 $1,999,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Clay R. Ellis sold 18,819 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IP shares. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $36.00 to $40.00 in a report on Friday, January 30th. Truist Financial lowered their price objective on shares of International Paper from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Royal Bank Of Canada reduced their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Finally, Citigroup raised their price target on shares of International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently 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.