PFG Investments LLC Invests $460,000 in International Paper (NYSE:IP)

PFG Investments LLC purchased a new stake in shares of International Paper (NYSE:IP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,786 shares of the basic materials company’s stock, valued at approximately $460,000.

Other institutional investors have also bought and sold shares of the company. Pathstone Family Office LLC bought a new position in International Paper during the third quarter valued at $1,164,000. StrategIQ Financial Group LLC bought a new stake in shares of International Paper in the 4th quarter worth about $2,271,000. Metis Global Partners LLC lifted its holdings in shares of International Paper by 6.7% in the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after acquiring an additional 1,376 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of International Paper by 40.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock worth $743,000 after acquiring an additional 6,033 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of International Paper by 263.1% in the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock worth $4,151,000 after acquiring an additional 83,203 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IP shares. Truist Financial restated a “buy” rating and issued a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Wells Fargo & Company reduced their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.13.

International Paper Stock Down 1.1 %

NYSE IP traded down $0.38 during trading on Tuesday, reaching $34.94. 6,717,150 shares of the company’s stock traded hands, compared to its average volume of 5,063,195. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 71.31 and a beta of 0.99. The company’s 50 day simple moving average is $36.62 and its two-hundred day simple moving average is $35.81. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. As a group, sell-side analysts forecast that International Paper will post 1.9 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 8,800 shares of company stock valued at $310,438. Company insiders own 0.55% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.