Advisors Preferred LLC Invests $1.18 Million in International Paper Company $IP

Advisors Preferred LLC acquired a new position in International Paper Company (NYSE:IP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,542 shares of the basic materials company’s stock, valued at approximately $1,181,000.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after acquiring an additional 1,592,411 shares in the last quarter. AE Wealth Management LLC grew its position in International Paper by 8.5% in the 3rd quarter. AE Wealth Management LLC now owns 332,310 shares of the basic materials company’s stock valued at $15,419,000 after purchasing an additional 26,146 shares during the period. Westfield Capital Management Co. LP increased its stake in International Paper by 9.7% during 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 purchasing an additional 205,888 shares in the last quarter. Caprock Group LLC acquired a new position in International Paper during the third quarter worth $2,340,000. Finally, Norges Bank bought a new position in shares of International Paper in the second quarter valued at $281,735,000. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling at International Paper

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was bought at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the acquisition, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.

International Paper Stock Performance

IP stock opened at $46.81 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. The firm has a market cap of $24.72 billion, a PE ratio of -6.98 and a beta of 1.11. The business has a 50 day moving average of $42.63 and a 200-day moving average of $43.56. International Paper Company has a 12-month low of $35.56 and a 12-month high of $57.07.

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 return on equity of 0.35% and a negative net margin of 14.12%.The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, sell-side analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group downgraded shares of International Paper from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $51.00 to $44.00 in a research report on Monday, February 2nd. JPMorgan Chase & Co. lifted their price target on International Paper from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. BNP Paribas Exane raised International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Monday, November 24th. 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 report on Monday, December 22nd. Finally, Jefferies Financial Group upped their price target on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.25.

International Paper Company 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.