M&G PLC Has $145.31 Million Stock Holdings in International Paper Company $IP

M&G PLC trimmed its position in International Paper Company (NYSE:IPFree Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,182,976 shares of the basic materials company’s stock after selling 37,094 shares during the quarter. M&G PLC’s holdings in International Paper were worth $145,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC raised its stake in International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of International Paper during the 2nd quarter worth approximately $33,000. Elevation Point Wealth Partners LLC acquired a new position in shares of International Paper during the 2nd quarter worth approximately $35,000. CYBER HORNET ETFs LLC bought a new stake in International Paper in the 2nd quarter valued at $43,000. Finally, City Holding Co. bought a new stake in International Paper in the 3rd quarter valued at $46,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $49.17 on Monday. The firm has a 50-day moving average price of $41.67 and a two-hundred day moving average price of $43.48. International Paper Company has a 12-month low of $35.56 and a 12-month high of $57.55. The company has a market capitalization of $25.96 billion, a P/E ratio of -7.33 and a beta of 1.11. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60.

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

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total value of $693,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew K. Silvernail purchased 50,000 shares of International Paper stock in a transaction that occurred on Friday, January 30th. The shares were purchased at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the transaction, the chief executive officer directly owned 50,000 shares in the company, valued at $1,999,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IP. Stifel Nicolaus decreased their price objective on shares of International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a report on Monday, February 9th. UBS Group downgraded shares of International Paper from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Argus lowered 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. Jefferies Financial Group boosted their price objective on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Citigroup upped their target price on International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.25.

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About International Paper

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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