M&T Bank Corp Lowers Position in International Paper (NYSE:IP)

M&T Bank Corp decreased its stake in shares of International Paper (NYSE:IP) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,753 shares of the basic materials company’s stock after selling 4,866 shares during the period. M&T Bank Corp’s holdings in International Paper were worth $2,413,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mizuho Markets Americas LLC purchased a new stake in International Paper in the 3rd quarter valued at about $144,509,000. Acadian Asset Management LLC increased its position in shares of 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 valued at $57,129,000 after acquiring an additional 1,087,933 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 13.0% during 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 period. AQR Capital Management LLC boosted its position 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 worth $105,035,000 after purchasing an additional 777,273 shares during the last quarter. Finally, Atlas FRM LLC boosted its position in International Paper by 30.0% in the third 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 last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 9,400 shares of company stock worth $331,402 over the last quarter. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.57.

International Paper Price Performance

Shares of NYSE:IP opened at $39.28 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $13.64 billion, a PE ratio of 80.16 and a beta of 1.01. International Paper has a twelve month low of $29.00 and a twelve month high of $41.30. The company has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $35.88.

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 analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Equities analysts forecast that International Paper will post 1.88 EPS for the current year.

International Paper 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.