OLD National Bancorp IN Has $572,000 Stock Position in International Paper (NYSE:IP)

OLD National Bancorp IN lowered its holdings in shares of International Paper (NYSE:IP) by 25.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,831 shares of the basic materials company’s stock after selling 5,350 shares during the period. OLD National Bancorp IN’s holdings in International Paper were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IP. Mizuho Markets Americas LLC acquired a new stake in International Paper during the third quarter worth $144,509,000. Acadian Asset Management LLC boosted its stake in shares of 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 valued at $57,129,000 after purchasing an additional 1,087,933 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after purchasing an additional 1,011,315 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after purchasing an additional 777,273 shares in the last quarter. Finally, Atlas FRM LLC boosted its stake in shares of International Paper by 30.0% in the 3rd quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock valued at $92,222,000 after purchasing an additional 600,000 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related 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 completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of NYSE:IP opened at $34.43 on Thursday. The stock has a market capitalization of $11.96 billion, a P/E ratio of 41.99 and a beta of 0.99. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $36.71 and a two-hundred day moving average price of $35.83.

International Paper (NYSE:IP) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates 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 for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. Equities analysts predict that International Paper will post 1.91 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on IP. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Truist Financial reaffirmed a “buy” rating and issued a $40.00 price target on shares of International Paper in a report on Wednesday, April 17th. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, International Paper currently has an average rating of “Hold” and an average price target of $37.13.

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.