Huntington National Bank Decreases Stock Position in International Paper Company $IP

Huntington National Bank lessened its holdings in International Paper Company (NYSE:IP) by 18.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,111 shares of the basic materials company’s stock after selling 18,377 shares during the quarter. Huntington National Bank’s holdings in International Paper were worth $3,810,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of International Paper in the 1st quarter valued at approximately $249,000. Intech Investment Management LLC increased its stake in International Paper by 100.5% during 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 purchasing an additional 16,055 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after buying an additional 634 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of International Paper by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 328,686 shares of the basic materials company’s stock worth $15,392,000 after buying an additional 26,723 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of International Paper by 4.5% during the second quarter. Teacher Retirement System of Texas now owns 76,137 shares of the basic materials company’s stock worth $3,565,000 after buying an additional 3,255 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus cut their target price on International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research report on Monday, February 9th. Jefferies Financial Group boosted their price target on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Argus cut their price objective on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. UBS Group cut International Paper from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $51.00 to $44.00 in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.25.

International Paper Trading Up 0.8%

Shares of NYSE:IP opened at $43.47 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. International Paper Company has a 12-month low of $35.56 and a 12-month high of $57.07. The business has a 50 day moving average of $43.14 and a two-hundred day moving average of $43.43. The company has a market capitalization of $22.95 billion, a PE ratio of -6.48 and a beta of 1.11.

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

Insider Buying and Selling at International Paper

In other news, CEO Andrew K. Silvernail bought 50,000 shares of the stock in a transaction dated Friday, January 30th. The shares were acquired at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the purchase, the chief executive officer directly owned 50,000 shares in the company, valued at $1,999,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

International Paper 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.