The asset management firm CreativeOne Wealth LLC has increased its stock position in the International Paper company (IP). IP is undertaking self-help measures and utilizing improving market conditions to drive further upside. IP is also reviewing its strategic options concerning its Global Cellulose Fibers Business, which includes planning the closure of its Georgetown mill. This move coincides with IP's declaration of hundreds of layoffs and multiple location closures in the future.
Despite these cutbacks, IP acquired a significant Forest Conservation Award for preserving 1.6 million acres. Meanwhile, analysts have given IP a consensus rating of 'Moderate Buy'. IP's shareholders have voted to approve a merger with DS Smith, and they have appointed Tom Hamic to a new leadership role. Despite these approvals, the deal closure with DS Smith has been postponed to 2025. The company intends to close facilities across four states, and it surpassed its Q3 earnings and revenue estimates.
Brazilian paper company Suzano had shown interest in making a $15 billion offer for IP, but has since ended negotiations. Finally, IP has a commitment to nature conservation, with a significant investment of $15.3 million in conservation partnerships.
International Paper IP News Analytics from Wed, 27 Mar 2024 07:00:00 GMT to Sat, 30 Nov 2024 10:13:31 GMT - Rating 0 - Innovation -3 - Information 8 - Rumor -5
