International Paper Co (NYSE:IP), saw a high level insider substantially alter his positioning with the company through a transaction that began last week and was officially filed today, September 2nd. Chairman and Chief Executive Officer John V. Faraci disposed of 40,000 shares of common stock at average prices ranging from $48.22 to $48.63 per share. Following this move, Faraci has a total of 1,428,644 shares directly while having 2,461 shares indirectly involved with the paper corporation. Moreover, a $20.68 billion market cap company, International Paper Co (NYSE:IP) is a global paper and packaging company, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. The Company operates in four segments: Industrial Packaging, Printing Papers, Consumer Packaging and Distribution.
In addition, the largest hedge fund involvement comes from billionaire D. E. Shaw‘s D E Shaw fund. After raising its holdings by 7% last quarter, the fund holds about 3.4 million shares worth nearly $172 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.