E. Ohman J or Asset Management AB Acquires 5,000 Shares of International Paper (NYSE:IP)

E. Ohman J or Asset Management AB increased its holdings in shares of International Paper (NYSE:IP) by 31.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,100 shares of the basic materials company’s stock after acquiring an additional 5,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in International Paper were worth $1,126,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in International Paper during the 4th quarter worth approximately $26,000. Picton Mahoney Asset Management grew its position in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Venturi Wealth Management LLC grew its position in International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 295 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in International Paper during the 4th quarter worth approximately $37,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of International Paper stock opened at $47.37 on Friday. The company has a market capitalization of $25.01 billion, a PE ratio of 30.17, a PEG ratio of 0.39 and a beta of 1.04. International Paper has a 12 month low of $41.50 and a 12 month high of $60.36. 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 stock’s fifty day simple moving average is $47.31 and its 200 day simple moving average is $52.51.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. On average, research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.91%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent research reports. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. UBS Group initiated coverage on International Paper in a research report on Wednesday. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.54.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

International Paper Company 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.