International Paper (NYSE:IP) Holdings Lifted by Pacer Advisors Inc.

Posted by Defense World Staff on May 2nd, 2023

Pacer Advisors Inc. boosted its position in shares of International Paper (NYSE:IP – Get Rating) by 3,909.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,589 shares of the basic materials company’s stock after buying an additional 28,851 shares during the quarter. Pacer Advisors Inc.’s holdings in International Paper were worth $1,025,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of International Paper by 165.8% during the third quarter. EverSource Wealth Advisors LLC now owns 776 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in shares of International Paper by 133.4% during the fourth quarter. Dupont Capital Management Corp now owns 803 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 459 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Tobam purchased a new stake in shares of International Paper during the third quarter valued at $36,000. Finally, Kistler Tiffany Companies LLC lifted its holdings in shares of International Paper by 576.5% during the fourth quarter. Kistler Tiffany Companies LLC now owns 1,035 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 882 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

International Paper Stock Performance

Shares of NYSE IP opened at $33.24 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.55. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 9.21 and a beta of 1.05. The business’s 50-day simple moving average is $35.61 and its 200-day simple moving average is $36.02. International Paper has a 52 week low of $30.69 and a 52 week high of $49.32.

International Paper (NYSE:IP – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. International Paper had a return on equity of 14.87% and a net margin of 6.28%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. As a group, equities research analysts expect that International Paper will post 2.84 earnings per share for the current fiscal year.

Insider Activity

In other International Paper news, CEO Mark S. Sutton sold 85,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $34.58, for a total value of $2,939,300.00. Following the sale, the chief executive officer now owns 143,000 shares of the company’s stock, valued at approximately $4,944,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other International Paper news, CEO Mark S. Sutton sold 85,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $34.58, for a total value of $2,939,300.00. Following the sale, the chief executive officer now owns 143,000 shares of the company’s stock, valued at approximately $4,944,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph R. Saab sold 1,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $35.35, for a total value of $60,271.75. Following the completion of the sale, the senior vice president now directly owns 1,671 shares in the company, valued at approximately $59,069.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,567 shares of company stock valued at $3,261,447. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IP shares. Truist Financial increased their price objective on International Paper from $30.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 1st. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday. Argus increased their price objective on International Paper from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. UBS Group raised International Paper from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $43.00 in a research note on Friday, February 3rd. Finally, Wells Fargo & Company raised their price target on International Paper from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Hold” and a consensus target price of $38.55.

International Paper Company Profile

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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 is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.