DNB Asset Management AS Has $3.08 Million Stock Position in International Paper Co (NYSE:IP)

DNB Asset Management AS increased its position in shares of International Paper Co (NYSE:IP) by 24.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,632 shares of the basic materials company’s stock after buying an additional 14,289 shares during the quarter. DNB Asset Management AS’s holdings in International Paper were worth $3,079,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in International Paper by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 32,455,172 shares of the basic materials company’s stock worth $1,405,959,000 after buying an additional 741,541 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of International Paper by 5.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 19,820,470 shares of the basic materials company’s stock worth $858,623,000 after purchasing an additional 1,061,362 shares during the last quarter. Invesco Ltd. raised its stake in shares of International Paper by 14.7% in the second quarter. Invesco Ltd. now owns 16,419,542 shares of the basic materials company’s stock worth $711,294,000 after purchasing an additional 2,104,748 shares during the last quarter. Northern Trust Corp raised its stake in shares of International Paper by 8.7% in the second quarter. Northern Trust Corp now owns 4,620,462 shares of the basic materials company’s stock worth $200,157,000 after purchasing an additional 370,194 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of International Paper by 11.7% in the second quarter. Schroder Investment Management Group now owns 4,560,494 shares of the basic materials company’s stock worth $197,561,000 after purchasing an additional 476,899 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Timothy S. Nicholls sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $42.44, for a total value of $1,909,800.00. Following the completion of the transaction, the senior vice president now directly owns 60,490 shares of the company’s stock, valued at $2,567,195.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Sharon R. Ryan sold 22,507 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $44.97, for a total value of $1,012,139.79. Following the completion of the transaction, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at $2,768,083.38. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Several analysts have recently commented on IP shares. UBS Group set a $50.00 price objective on International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. Stephens set a $50.00 price objective on International Paper and gave the stock a “hold” rating in a research note on Wednesday, October 9th. ValuEngine downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Wells Fargo & Co lowered their price objective on International Paper from $43.00 to $42.00 and set a “market perform” rating for the company in a research note on Tuesday, October 8th. Finally, KeyCorp reissued a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $45.20.

IP stock opened at $42.26 on Friday. The firm has a market cap of $16.45 billion, a PE ratio of 7.94, a P/E/G ratio of 1.88 and a beta of 1.53. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average of $40.54 and a 200-day moving average of $42.76. International Paper Co has a 12-month low of $36.45 and a 12-month high of $48.24.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.14. The company had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.77 billion. International Paper had a return on equity of 30.14% and a net margin of 6.88%. International Paper’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. On average, research analysts expect that International Paper Co will post 4.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.5125 dividend. The ex-dividend date is Thursday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.50. This represents a $2.05 annualized dividend and a dividend yield of 4.85%. International Paper’s dividend payout ratio is currently 37.59%.

International Paper Company Profile

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 involves in the manufacturing of 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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