GAMMA Investing LLC Makes New $61,000 Investment in International Paper (NYSE:IP)

GAMMA Investing LLC purchased a new stake in International Paper (NYSE:IP) in the fourth quarter, Holdings Channel reports. The firm purchased 1,699 shares of the basic materials company’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mizuho Markets Americas LLC bought a new stake in International Paper during the third quarter valued at $144,509,000. Acadian Asset Management LLC raised its stake in International Paper by 208.0% during the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after acquiring an additional 1,087,933 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 13.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after acquiring an additional 1,011,315 shares during the last quarter. AQR Capital Management LLC boosted its stake in International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after acquiring an additional 777,273 shares during the period. Finally, Atlas FRM LLC raised its position in shares of International Paper by 30.0% during the 3rd quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock worth $92,222,000 after purchasing an additional 600,000 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IP shares. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company cut their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.57.

International Paper Price Performance

Shares of IP opened at $35.28 on Thursday. 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 company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 72.00 and a beta of 0.99. The business’s 50-day moving average is $36.63 and its 200-day moving average is $35.81. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. Equities research analysts expect that International Paper will post 1.88 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 the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 9,400 shares of company stock worth $331,402 over the last ninety days. 0.55% of the stock is currently owned by insiders.

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.