Key Points
- Anders Gustafsson bought 13,217 shares of International Paper on March 12 at $37.83 each for a total of $499,999.11, bringing his holdings to 26,092 shares (a 102.66% increase).
- Gustafsson also purchased 12,875 shares on March 11 at $38.84 (~$500,065), so insider buys totaled roughly $1 million over two days; the stock rose about 4.8% as the company recently missed EPS (-$0.08 vs $0.28) despite a 53.1% revenue increase and a consensus analyst target of $48.25 ("Hold").
International Paper Company (NYSE:IP - Get Free Report) Director Anders Gustafsson bought 13,217 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares in the company, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Anders Gustafsson also recently made the following trade(s):
- On Wednesday, March 11th, Anders Gustafsson purchased 12,875 shares of International Paper stock. The stock was bought at an average cost of $38.84 per share, with a total value of $500,065.00.
International Paper Trading Up 4.8%
NYSE IP traded up $1.71 during trading on Friday, reaching $37.36. 4,616,831 shares of the stock traded hands, compared to its average volume of 7,109,805. International Paper Company has a fifty-two week low of $35.45 and a fifty-two week high of $56.64. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of -5.57 and a beta of 1.09. The stock's 50-day moving average price is $43.23 and its 200 day moving average price is $42.98.
International Paper (NYSE:IP - Get Free Report) 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 return on equity of 0.35% and a negative net margin of 14.12%.The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the business posted ($0.02) earnings per share. The company's revenue for the quarter was up 53.1% on a year-over-year basis. Analysts predict that International Paper Company will post 2.77 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have issued reports on IP. JPMorgan Chase & Co. boosted their target price on International Paper from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, January 30th. Citigroup lifted their price objective on International Paper from $46.00 to $47.00 and gave the company a "buy" rating in a report on Friday, January 30th. Wells Fargo & Company raised International Paper from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $36.00 to $40.00 in a research note on Friday, January 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of International Paper in a research note on Monday, December 29th. Finally, Argus lowered their price objective on shares of International Paper from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, December 22nd. Eight 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.com, the company presently has a consensus rating of "Hold" and a consensus target price of $48.25.
Read Our Latest Research Report on IP
Institutional Trading of International Paper
A number of institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in International Paper in the first quarter valued at approximately $249,000. Intech Investment Management LLC grew its stake in shares of International Paper by 100.5% in the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company's stock valued at $1,709,000 after buying an additional 16,055 shares in the last quarter. Savant Capital LLC grew its stake in shares of International Paper by 4.9% in the second quarter. Savant Capital LLC now owns 37,613 shares of the basic materials company's stock valued at $1,761,000 after buying an additional 1,752 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in International Paper by 65.0% during the first quarter. Summit Investment Advisors Inc. now owns 5,585 shares of the basic materials company's stock worth $298,000 after buying an additional 2,200 shares during the last quarter. Finally, AGF Management Ltd. bought a new stake in International Paper during the second quarter worth $258,000. Institutional investors own 81.95% of the company's stock.
About International Paper
(
Get 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.
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