DNB Asset Management AS Increases Holdings in International Paper Company $IP

DNB Asset Management AS grew its holdings in International Paper Company (NYSE:IP) by 144.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,920 shares of the basic materials company’s stock after purchasing an additional 152,907 shares during the period. DNB Asset Management AS’s holdings in International Paper were worth $10,199,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. McIlrath & Eck LLC boosted its position in shares of International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after buying an additional 525 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the period. Kelleher Financial Advisors purchased a new position in shares of International Paper during the third quarter valued at approximately $36,000. Laurel Wealth Advisors LLC bought a new position in International Paper in the fourth quarter valued at about $37,000. Finally, Atlantic Union Bankshares Corp purchased a new position in International Paper in the third quarter worth about $49,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IP. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $39.00 in a research report on Monday, May 4th. BNP Paribas Exane dropped their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. JPMorgan Chase & Co. reduced their price objective on International Paper from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Finally, Royal Bank Of Canada decreased their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

International Paper Price Performance

NYSE IP opened at $30.21 on Monday. International Paper Company has a 12 month low of $29.45 and a 12 month high of $56.13. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of -4.75 and a beta of 0.93. The company’s 50 day moving average is $35.20 and its two-hundred day moving average is $39.06. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, research analysts anticipate that International Paper Company will post 1.43 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, May 22nd. International Paper’s dividend payout ratio is presently -29.09%.

Insider Buying and Selling

In related news, Director Scott Tozier bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anders Gustafsson bought 13,217 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the purchase, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. This represents a 102.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 36,092 shares of company stock valued at $1,313,064. Insiders own 0.21% of the company’s stock.

About International Paper

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.