Pennsylvania Trust Co bought a new position in shares of International Paper Co (NYSE:IP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,581 shares of the basic materials company’s stock, valued at approximately $393,000.
Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of International Paper by 13.9% in the third quarter. Pacer Advisors Inc. now owns 21,735 shares of the basic materials company’s stock valued at $1,068,000 after buying an additional 2,652 shares in the last quarter. Man Group plc grew its stake in shares of International Paper by 63.3% in the third quarter. Man Group plc now owns 9,944 shares of the basic materials company’s stock valued at $489,000 after buying an additional 3,854 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of International Paper by 378.0% in the third quarter. Mackenzie Financial Corp now owns 67,106 shares of the basic materials company’s stock valued at $3,298,000 after buying an additional 53,068 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of International Paper by 47.2% in the third quarter. Macquarie Group Ltd. now owns 15,600 shares of the basic materials company’s stock valued at $767,000 after buying an additional 5,000 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of International Paper by 49.6% in the third quarter. AQR Capital Management LLC now owns 184,420 shares of the basic materials company’s stock valued at $9,064,000 after buying an additional 61,125 shares in the last quarter. 81.36% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on IP shares. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $50.00 to $60.00 in a research note on Wednesday, January 23rd. Deutsche Bank dropped their price objective on International Paper from $55.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, January 17th. Wells Fargo & Co cut International Paper from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 9th. Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, Royal Bank of Canada lifted their price objective on International Paper to $54.00 and gave the company an “outperform” rating in a research note on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $53.00.
International Paper (NYSE:IP) last released its earnings results on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.04. International Paper had a return on equity of 30.83% and a net margin of 8.63%. The firm had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.86 billion. As a group, research analysts forecast that International Paper Co will post 5.11 EPS for the current fiscal year.
In other International Paper news, insider John V. Sims sold 12,667 shares of International Paper stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $45.96, for a total transaction of $582,175.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory T. Wanta sold 9,000 shares of International Paper stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $47.72, for a total value of $429,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 85,760 shares of company stock valued at $4,016,587 over the last three months. 0.33% of the stock is currently owned by insiders.
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International Paper Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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