Toronto Dominion Bank Increases Stock Holdings in International Paper (NYSE:IP)

Posted by on May 8th, 2023

Toronto Dominion Bank raised its stake in International Paper (NYSE:IP – Get Rating) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,210 shares of the basic materials company’s stock after purchasing an additional 20,350 shares during the period. Toronto Dominion Bank’s holdings in International Paper were worth $6,098,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in International Paper by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock valued at $2,391,000 after purchasing an additional 3,209 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of International Paper by 4.5% during the first quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock worth $399,000 after acquiring an additional 369 shares during the last quarter. Desjardins Global Asset Management Inc. grew its position in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 211 shares during the last quarter. Cibc World Market Inc. purchased a new position in shares of International Paper during the first quarter worth approximately $206,000. Finally, Vontobel Holding Ltd. grew its position in shares of International Paper by 1.6% during the first quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock worth $1,947,000 after acquiring an additional 676 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IP shares. 58.com restated a “maintains” rating on shares of International Paper in a research report on Friday, April 28th. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Royal Bank of Canada upgraded shares of International Paper from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $40.00 to $39.00 in a research report on Friday, April 28th. They noted that the move was a valuation call. Argus raised their target price on shares of International Paper from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on International Paper from $31.00 to $27.00 in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.55.

Insider Transactions at International Paper

In other news, SVP Joseph R. Saab sold 1,705 shares of International Paper stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $35.35, for a total transaction of $60,271.75. Following the completion of the transaction, the senior vice president now owns 1,671 shares of the company’s stock, valued at approximately $59,069.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Joseph R. Saab sold 1,705 shares of International Paper stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $35.35, for a total transaction of $60,271.75. Following the completion of the transaction, the senior vice president now owns 1,671 shares of the company’s stock, valued at approximately $59,069.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Aimee K. Gregg sold 1,862 shares of International Paper stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $36.05, for a total value of $67,125.10. Following the transaction, the senior vice president now directly owns 4,260 shares of the company’s stock, valued at approximately $153,573. The disclosure for this sale can be found here. Insiders sold 93,567 shares of company stock valued at $3,261,447 in the last 90 days. 0.51% of the stock is currently owned by insiders.

International Paper Price Performance

International Paper stock opened at $32.35 on Monday. International Paper has a one year low of $30.69 and a one year high of $49.32. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55. The business has a fifty day moving average of $35.28 and a two-hundred day moving average of $36.00. The company has a market cap of $11.23 billion, a P/E ratio of 8.96 and a beta of 1.04.

International Paper (NYSE:IP – Get Rating) last released its earnings results on Thursday, April 27th. The basic materials company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. International Paper had a return on equity of 14.87% and a net margin of 6.28%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the company earned $0.76 earnings per share. International Paper’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts predict that International Paper will post 2.36 earnings per share for the current fiscal year.

International Paper Profile

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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