Machina Capital S.A.S. Reduces Stake in International Paper (NYSE:IP)

Machina Capital S.A.S. cut its stake in International Paper (NYSE:IP) by 14.7% in the fourth quarter, HoldingsChannel reports. The fund owned 11,993 shares of the basic materials company’s stock after selling 2,059 shares during the period. Machina Capital S.A.S.’s holdings in International Paper were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Greenhaven Associates Inc. increased its holdings in International Paper by 0.3% in the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after acquiring an additional 25,640 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of International Paper by 13.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after purchasing an additional 1,011,315 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of International Paper during the 3rd quarter worth about $144,509,000. Northern Trust Corp lifted its stake in International Paper by 4.4% in the 3rd quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock valued at $128,246,000 after buying an additional 151,084 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after buying an additional 777,273 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Finally, StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.57.

International Paper Trading Up 1.7 %

International Paper stock traded up $0.63 during mid-day trading on Monday, hitting $36.91. The company’s stock had a trading volume of 5,777,032 shares, compared to its average volume of 5,110,422. The firm has a market capitalization of $12.82 billion, a PE ratio of 75.33 and a beta of 1.01. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $36.75 and its two-hundred day moving average is $35.84.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, analysts anticipate that International Paper will post 1.88 EPS for the current year.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 9,400 shares of company stock worth $331,402 over the last ninety days. Company insiders own 0.55% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.