Westfield Capital Management Co. LP Has $108.64 Million Holdings in International Paper Company $IP

Westfield Capital Management Co. LP raised its stake in shares of International Paper Company (NYSE:IP) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,341,336 shares of the basic materials company’s stock after acquiring an additional 17,643 shares during the quarter. Westfield Capital Management Co. LP’s holdings in International Paper were worth $108,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of International Paper during the 2nd quarter valued at about $281,735,000. M&G PLC grew its holdings in International Paper by 165.9% during the second quarter. M&G PLC now owns 3,220,070 shares of the basic materials company’s stock valued at $150,553,000 after purchasing an additional 2,009,123 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of International Paper by 9.3% in 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 purchasing an additional 1,592,411 shares during the period. Sound Shore Management Inc CT acquired a new stake in shares of International Paper in the second quarter worth $69,208,000. Finally, Vanguard Group Inc. boosted its holdings in shares of International Paper by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock worth $2,991,462,000 after buying an additional 1,255,650 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, CEO Andrew K. Silvernail acquired 50,000 shares of the business’s stock in a transaction 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 acquisition, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on IP. Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Jefferies Financial Group raised their target price on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, UBS Group cut International Paper from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $51.00 to $44.00 in a research report on Monday, February 2nd. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has an average rating of “Hold” and an average target price of $48.25.

International Paper Stock Down 0.8%

Shares of IP opened at $43.67 on Thursday. 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 company has a 50-day moving average price of $42.95 and a two-hundred day moving average price of $43.49. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of -6.51 and a beta of 1.11. International Paper Company has a 12 month low of $35.56 and a 12 month high of $57.07.

International Paper (NYSE:IP) last issued 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). The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The company’s quarterly revenue was up 53.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

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.