MGO One Seven LLC Buys New Stake in International Paper (NYSE:IP)

MGO One Seven LLC bought a new stake in shares of International Paper (NYSE:IP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,667 shares of the basic materials company’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in shares of International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after acquiring an additional 12,191,361 shares during the period. FMR LLC raised its position in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares during the period. Norges Bank acquired a new position in shares of International Paper in the fourth quarter worth about $109,201,000. Slate Path Capital LP acquired a new position in shares of International Paper in the fourth quarter worth about $102,796,000. Finally, Artemis Investment Management LLP raised its position in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.2 %

Shares of NYSE IP opened at $47.43 on Tuesday. International Paper has a 12-month low of $34.18 and a 12-month high of $60.36. The stock has a market cap of $25.04 billion, a PE ratio of 30.21, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $50.78 and a 200 day moving average of $53.61.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, sell-side analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Truist Financial cut their target price on shares of International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their target price on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.77.

About International Paper

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.