International Paper (NYSE:IP) Stock Holdings Lessened by Forsta AP Fonden

Posted by Defense World Staff on Jul 8th, 2023

Forsta AP Fonden cut its stake in shares of International Paper (NYSE:IP – Free Report) by 15.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,000 shares of the basic materials company’s stock after selling 23,700 shares during the quarter. Forsta AP Fonden’s holdings in International Paper were worth $4,832,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CI Investments Inc. increased its stake in International Paper by 975.2% in the 4th quarter. CI Investments Inc. now owns 5,333 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 4,837 shares in the last quarter. DnB Asset Management AS raised its holdings in shares of International Paper by 104.9% during the first quarter. DnB Asset Management AS now owns 201,269 shares of the basic materials company’s stock valued at $7,258,000 after acquiring an additional 103,040 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of International Paper in the 1st quarter valued at approximately $198,000. WBH Advisory Inc. acquired a new position in International Paper in the 1st quarter worth approximately $243,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its position in International Paper by 5.9% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 71,938 shares of the basic materials company’s stock worth $2,491,000 after purchasing an additional 4,024 shares in the last quarter. 85.80% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

NYSE IP opened at $31.80 on Friday. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $45.17. The stock’s 50-day moving average is $31.50 and its two-hundred day moving average is $34.78. The firm has a market cap of $11.04 billion, a P/E ratio of 8.81 and a beta of 1.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.55 and a quick ratio of 1.10.

International Paper (NYSE:IP – Free Report) last issued its quarterly earnings data 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 business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts anticipate that International Paper will post 2.3 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 26th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, May 25th. International Paper’s payout ratio is 51.25%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IP. Royal Bank of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and decreased 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. 58.com reiterated a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of International Paper from $31.00 to $27.00 in a report on Monday, May 1st. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Finally, 51job reissued a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus target price of $37.64.

Insider Buying and Selling

In other International Paper news, SVP Allison B. Magness sold 3,300 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $31.75, for a total transaction of $104,775.00. Following the completion of the transaction, the senior vice president now owns 21,055 shares of the company’s stock, valued at approximately $668,496.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is owned by insiders.

International Paper Company Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.