BNP Paribas Financial Markets Acquires 809,727 Shares of International Paper Company $IP

BNP Paribas Financial Markets increased its holdings in shares of International Paper Company (NYSE:IP) by 19.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,039,300 shares of the basic materials company’s stock after purchasing an additional 809,727 shares during the period. BNP Paribas Financial Markets’ holdings in International Paper were worth $233,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mackenzie Financial Corp increased its stake in International Paper by 2.8% during the 3rd quarter. Mackenzie Financial Corp now owns 63,074 shares of the basic materials company’s stock worth $2,927,000 after purchasing an additional 1,717 shares in the last quarter. Franklin Resources Inc. lifted its stake in International Paper by 9.5% in the third quarter. Franklin Resources Inc. now owns 8,168,966 shares of the basic materials company’s stock valued at $379,040,000 after buying an additional 710,017 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of International Paper by 7.5% in the third quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock valued at $2,520,945,000 after buying an additional 3,768,772 shares during the period. Capital World Investors increased its position in shares of International Paper by 2.0% during the third quarter. Capital World Investors now owns 6,220,810 shares of the basic materials company’s stock worth $288,646,000 after acquiring an additional 120,015 shares in the last quarter. Finally, Capital International Inc. CA raised its holdings in shares of International Paper by 100.6% during the third quarter. Capital International Inc. CA now owns 689,724 shares of the basic materials company’s stock worth $32,003,000 after acquiring an additional 345,821 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IP shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Jefferies Financial Group upped their price objective on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. UBS Group lowered International Paper from a “buy” rating to a “neutral” rating and dropped their target price for the company from $51.00 to $44.00 in a research report on Monday, February 2nd. Finally, BNP Paribas Exane upgraded International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, International Paper presently has a consensus rating of “Hold” and a consensus target price of $48.25.

International Paper Stock Up 1.7%

Shares of IP stock opened at $39.05 on Wednesday. The firm’s fifty day moving average price is $43.32 and its two-hundred day moving average price is $43.06. 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 1 year low of $35.56 and a 1 year high of $56.64. The firm has a market capitalization of $20.68 billion, a P/E ratio of -5.82 and a beta of 1.09.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The business had revenue of $6.01 billion for 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 quarter in the prior year, the company earned ($0.02) earnings per share. On average, equities analysts predict 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 on Friday, January 30th. The stock was purchased at an average cost of $39.98 per share, for a total transaction 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 $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

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.