Colrain Capital LLC Acquires 46,030 Shares of International Paper Company $IP

Colrain Capital LLC grew its stake in shares of International Paper Company (NYSE:IP) by 57.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,780 shares of the basic materials company’s stock after buying an additional 46,030 shares during the period. International Paper accounts for about 3.3% of Colrain Capital LLC’s investment portfolio, making the stock its 15th largest position. Colrain Capital LLC’s holdings in International Paper were worth $5,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IP. AlphaQuest LLC lifted its stake in International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of International Paper in the second quarter worth about $33,000. Elevation Point Wealth Partners LLC bought a new position in International Paper during the second quarter valued at approximately $35,000. CYBER HORNET ETFs LLC purchased a new position in International Paper during the 2nd quarter valued at approximately $43,000. Finally, City Holding Co. purchased a new position in International Paper during the 3rd quarter valued at approximately $46,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

International Paper stock opened at $49.17 on Tuesday. 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 firm has a market capitalization of $25.96 billion, a P/E ratio of -7.33 and a beta of 1.11. International Paper Company has a 1-year low of $35.56 and a 1-year high of $57.55. The company’s 50-day moving average is $41.88 and its 200 day moving average is $43.49.

International Paper (NYSE:IP) last released its earnings results 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 business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the company posted ($0.02) EPS. The company’s quarterly revenue was up 53.1% compared to the same quarter last year. Research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on IP shares. Royal Bank Of Canada lowered their target price 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. 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. 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 report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Finally, Citigroup lifted their price target on International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.25.

Insiders Place Their Bets

In related news, CEO Andrew K. Silvernail bought 50,000 shares of the stock in a transaction dated 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 purchase, the chief executive officer owned 50,000 shares of the company’s stock, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by 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.