International Paper (NYSE:IP) Holdings Cut by Swedbank AB

Swedbank AB reduced its stake in International Paper (NYSE:IP) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,884 shares of the basic materials company’s stock after selling 5,180 shares during the period. Swedbank AB’s holdings in International Paper were worth $5,368,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after buying an additional 9,774 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after buying an additional 537,825 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new stake in International Paper in the 2nd quarter valued at approximately $88,966,000. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 1.2 %

Shares of NYSE:IP opened at $58.38 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of 49.90 and a beta of 1.02. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company has a 50 day moving average price of $52.02 and a 200 day moving average price of $47.76.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, research analysts anticipate that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

Insiders Place Their Bets

In other news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,440 shares of company stock worth $505,070 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on IP. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.54.

International Paper 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.