B. Metzler seel. Sohn & Co. AG Sells 36,741 Shares of International Paper Company $IP

B. Metzler seel. Sohn & Co. AG lowered its position in International Paper Company (NYSE:IP) by 34.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,358 shares of the basic materials company’s stock after selling 36,741 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in International Paper were worth $3,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in International Paper in the 2nd quarter valued at about $33,000. Elevation Point Wealth Partners LLC purchased a new position in shares of International Paper in the 2nd quarter worth approximately $35,000. CYBER HORNET ETFs LLC bought a new position in shares of International Paper in the second quarter valued at approximately $43,000. City Holding Co. bought a new position in shares of International Paper in the third quarter valued at approximately $46,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of International Paper during the third quarter valued at approximately $49,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

International Paper stock opened at $38.37 on Tuesday. The business’s 50 day simple moving average is $43.33 and its 200 day simple moving average is $43.13. International Paper Company has a 12 month low of $35.56 and a 12 month high of $56.64. The company has a market cap of $20.32 billion, a price-to-earnings ratio of -5.72 and a beta of 1.09. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last released its 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 return on equity of 0.35% and a negative net margin of 14.12%.The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. Sell-side analysts forecast that International Paper Company will post 2.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IP shares. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. BNP Paribas Exane raised International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Monday, November 24th. Jefferies Financial Group lifted their target price on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Argus cut their price target on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Finally, Citigroup increased their price target on shares of International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average target price of $48.25.

Insiders Place Their Bets

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $1,999,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

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.