Investors Buy Large Volume of International Paper Call Options (NYSE:IP)

International Paper (NYSE:IP) was the target of unusually large options trading on Tuesday. Investors purchased 22,860 call options on the stock. This is an increase of approximately 294% compared to the typical daily volume of 5,809 call options.

International Paper Stock Performance

Shares of IP stock opened at $39.28 on Thursday. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.30. The stock’s 50-day moving average is $36.84 and its two-hundred day moving average is $35.88. 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 $13.64 billion, a P/E ratio of 80.16 and a beta of 1.01.

International Paper (NYSE:IP) last released its quarterly earnings data 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 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 company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. Analysts predict that International Paper will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IP has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Finally, Wells Fargo & Company reduced their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.57.

Insider Buying and Selling

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 9,400 shares of company stock valued at $331,402. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after purchasing an additional 4,960,005 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of International Paper during the 3rd quarter worth $144,509,000. Bank of New York Mellon Corp grew its stake in International Paper by 82.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after buying an additional 2,755,441 shares during the last quarter. Norges Bank acquired a new position in International Paper in the 4th quarter valued at $94,913,000. Finally, Acadian Asset Management LLC raised its holdings in International Paper by 208.0% in the 3rd 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. Institutional investors and hedge funds own 81.95% 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.