Investors Purchase High Volume of International Paper Put Options (NYSE:IP)

International Paper (NYSE:IP) was the target of unusually large options trading on Friday. Investors bought 11,048 put options on the stock. This is an increase of 112% compared to the typical daily volume of 5,203 put options.

Analyst Ratings Changes

Several research firms recently weighed in on IP. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company dropped their target price 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. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Truist Financial reiterated a “buy” rating and set a $40.00 target price on shares of International Paper in a research report on Wednesday. Finally, StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.13.

International Paper Price Performance

IP opened at $35.37 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28. The company has a fifty day simple moving average of $36.73 and a 200 day simple moving average of $35.84. The stock has a market cap of $12.28 billion, a P/E ratio of 43.13 and a beta of 0.99.

International Paper (NYSE:IP) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, research analysts expect that International Paper will post 1.88 EPS for the current year.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,800 shares of company stock valued at $310,438 in the last three months. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Paper

A number of large investors have recently added to or reduced their stakes in IP. Franklin Resources Inc. grew its holdings 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 position in International Paper during the third quarter worth about $144,509,000. Norges Bank bought a new position in International Paper during the fourth quarter worth about $94,913,000. BlackRock Inc. grew its holdings in International Paper by 4.0% during the first quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after purchasing an additional 1,436,757 shares during the period. Finally, Acadian Asset Management LLC grew its holdings 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 purchasing an additional 1,087,933 shares during the period. Institutional investors 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.