Deutsche Bank AG Purchases Shares of 2,036,838 International Paper Company $IP

Deutsche Bank AG acquired a new stake in shares of International Paper Company (NYSE:IP) during the second quarter, Holdings Channel reports. The fund acquired 2,036,838 shares of the basic materials company’s stock, valued at approximately $77,604,000.

Several other large investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in International Paper during the 2nd quarter valued at about $689,498,000. Capital International Investors grew its position in International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after acquiring an additional 14,422,616 shares during the last quarter. Franklin Resources Inc. increased its stake in International Paper by 81.6% in the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after purchasing an additional 6,663,986 shares during the period. Norges Bank purchased a new position in International Paper in the 4th quarter worth approximately $250,093,000. Finally, Atlas FRM LLC lifted its position in International Paper by 56.2% in the fourth quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock valued at $196,950,000 after purchasing an additional 1,800,000 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

International Paper Trading Down 1.6%

NYSE IP opened at $40.42 on Friday. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The stock has a 50 day simple moving average of $39.10 and a two-hundred day simple moving average of $37.90. The stock has a market cap of $21.41 billion, a P/E ratio of -6.20 and a beta of 0.94.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company earned $0.20 EPS. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, analysts forecast that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.6%. International Paper’s payout ratio is -28.37%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Seaport Research Partners reiterated a “buy” rating and set a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. Truist Financial reiterated a “buy” rating and set a $49.00 price target (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Wells Fargo & Company increased their price target on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Citigroup boosted their price objective on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.75.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.