International Paper (NYSE:IP) Director Buys $500,065.00 in Stock

International Paper Company (NYSE:IP) Director Anders Gustafsson bought 12,875 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $38.84 per share, for a total transaction of $500,065.00. Following the completion of the transaction, the director owned 12,875 shares of the company’s stock, valued at $500,065. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Anders Gustafsson also recently made the following trade(s):

• On Thursday, March 12th, Anders Gustafsson bought 13,217 shares of International Paper stock. The stock was bought at an average price of $37.83 per share, with a total value of $499,999.11.

International Paper Stock Down 8.1%

Shares of NYSE IP traded down $3.14 during trading hours on Thursday, hitting $35.52. The stock had a trading volume of 6,252,903 shares, compared to its average volume of 7,167,723. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. The company has a market capitalization of $18.81 billion, a P/E ratio of -5.29 and a beta of 1.09. International Paper Company has a 52 week low of $35.45 and a 52 week high of $56.64. The firm’s 50-day moving average price is $43.30 and its two-hundred day moving average price is $43.03.

International Paper (NYSE:IP) last announced 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 company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 53.1% compared to the same quarter last year. Analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

Hedge Funds Weigh In On International Paper

A number of large investors have recently made changes to their positions in IP. McIlrath & Eck LLC raised its holdings in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of International Paper during the 4th quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of International Paper during the second quarter worth $33,000. Sound Income Strategies LLC grew its position in International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of International Paper during the fourth quarter worth about $29,000. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IP shares. Jefferies Financial Group boosted their target price on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. BNP Paribas Exane raised shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price target 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 note on Monday, December 22nd. JPMorgan Chase & Co. boosted their price target on shares of International Paper from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada dropped their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.