Shell Asset Management Co. Decreases Holdings in International Paper Company $IP

Shell Asset Management Co. lessened its stake in shares of International Paper Company (NYSE:IP) by 67.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,395 shares of the basic materials company’s stock after selling 25,271 shares during the period. Shell Asset Management Co.’s holdings in International Paper were worth $575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of International Paper in the first quarter valued at approximately $249,000. Intech Investment Management LLC grew its stake in International Paper by 100.5% in 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 buying an additional 16,055 shares in the last quarter. Nordea Investment Management AB raised its holdings in International Paper by 35.7% during the 2nd quarter. Nordea Investment Management AB now owns 436,954 shares of the basic materials company’s stock valued at $20,463,000 after acquiring an additional 114,887 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in shares of International Paper by 0.8% during the second quarter. Chevy Chase Trust Holdings LLC now owns 279,086 shares of the basic materials company’s stock worth $13,070,000 after acquiring an additional 2,313 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of International Paper in the second quarter worth $47,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $49.17 on Tuesday. The stock 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 one year low of $35.56 and a one year high of $57.55. The firm’s 50 day simple moving average is $41.88 and its two-hundred day simple moving average is $43.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36). The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The business’s quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. As a group, analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew K. Silvernail purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was bought 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 directly owned 50,000 shares in the company, valued at approximately $1,999,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IP. Truist Financial decreased their price objective on International Paper from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Argus decreased their price target 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. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Monday, November 24th. Citigroup boosted their price objective on shares of International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company upgraded shares of International Paper from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $36.00 to $40.00 in a research note on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.25.

About International Paper

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.