On Friday, International Paper Company (NYSE:IP)’s Chairman and Chief Executive Officer, John Faraci, unloaded 30,000 shares of Common Stock, directly, for a weighted average price of $47.60 per share. The insider has completed several stock dispositions throughout this quarter of the fiscal year, with his latest sale dating back to July 1st, when he disposed of 30,000 shares for $50.83 per share. Following the latest sale, Faraci now holds a total of 1,468,644 shares of the $20.5 billion market cap global paper and packaging firm.
Furthermore, the company’s Senior Vice President, William Hoel, also completed a disposition in July, unloading 10,000 shares of Common Stock for a price of $51.00 per share. The sale was executed one day after disposing of 10,000 shares for $50.00 per share.
In terms of hedge fund movements, D.E. Shaw augmented International Paper Company’s portfolio activity by 7% last quarter and his hedge fund (D.E. Shaw) now owns nearly 3.2 million company shares, with an estimated value of $146.8 million.