105,750 Shares in International Paper Company $IP Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new position in International Paper Company (NYSE:IP) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 105,750 shares of the basic materials company’s stock, valued at approximately $3,775,000.

Several other large investors also recently modified their holdings of IP. Dynamic Technology Lab Private Ltd purchased a new stake in shares of International Paper during the first quarter worth about $249,000. Intech Investment Management LLC lifted its stake in shares of International Paper by 100.5% in the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after acquiring an additional 16,055 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in International Paper by 20.8% in the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 2,981 shares during the last quarter. Jump Financial LLC boosted its holdings in International Paper by 280.9% in the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after purchasing an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in International Paper by 8.0% during the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock valued at $1,580,000 after purchasing an additional 2,493 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 4.8%

Shares of International Paper stock opened at $38.10 on Thursday. The business has a 50-day moving average price of $35.31 and a 200 day moving average price of $37.98. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $56.13. The firm has a market cap of $20.17 billion, a P/E ratio of -5.99 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. On average, sell-side analysts forecast that International Paper Company will post 1.39 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio is currently -29.09%.

Insider Transactions at International Paper

In other news, Director Scott Tozier acquired 10,000 shares of International Paper stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. JPMorgan Chase & Co. raised their price target on shares of International Paper from $43.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Seaport Research Partners raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Friday, May 1st. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.31.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.