Toronto Dominion Bank Acquires 697 Shares of International Paper (NYSE:IP)

Toronto Dominion Bank boosted its holdings in International Paper (NYSE:IP) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,533 shares of the basic materials company’s stock after purchasing an additional 697 shares during the quarter. Toronto Dominion Bank’s holdings in International Paper were worth $6,218,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IP. CTC Alternative Strategies Ltd. acquired a new stake in International Paper in the fourth quarter valued at approximately $1,403,000. Alpine Global Management LLC purchased a new position in shares of International Paper during the fourth quarter valued at approximately $501,000. Vise Technologies Inc. purchased a new position in shares of International Paper during the fourth quarter valued at approximately $461,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of International Paper during the fourth quarter valued at approximately $221,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of International Paper by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,138,114 shares of the basic materials company’s stock valued at $115,073,000 after buying an additional 138,395 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Truist Financial decreased their target price on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.86.

International Paper Stock Up 0.4%

Shares of NYSE IP opened at $47.93 on Friday. International Paper has a one year low of $41.50 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business’s fifty day moving average price is $48.17 and its 200-day moving average price is $52.93. The stock has a market capitalization of $25.30 billion, a PE ratio of 30.53, a P/E/G ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the prior year, the company earned $0.17 EPS. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. On average, equities research analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.86%. International Paper’s payout ratio is 158.12%.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

International Paper Company 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.