Amundi Makes New Investment in International Paper Company $IP

Amundi purchased a new stake in International Paper Company (NYSE:IP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,169,712 shares of the basic materials company's stock, valued at approximately $82,666,000. Amundi owned approximately 0.41% of International Paper as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in International Paper during the 4th quarter worth approximately $25,000. Aberdeen Wealth Management LLC acquired a new stake in shares of International Paper in the second quarter worth $27,000. Ascentis Independent Advisors purchased a new position in shares of International Paper during the first quarter valued at $28,000. DV Equities LLC acquired a new position in International Paper during the fourth quarter valued at $29,000. Finally, Delta Asset Management LLC TN acquired a new position in International Paper during the second quarter valued at $31,000. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Performance

Shares of NYSE IP opened at $34.73 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The business's 50-day moving average price is $39.39 and its two-hundred day moving average price is $37.07. The company has a market capitalization of $18.39 billion, a P/E ratio of -5.33, a price-to-earnings-growth ratio of 4.54 and a beta of 0.93.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. Analysts anticipate that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed 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 yield of 5.3%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's dividend payout ratio (DPR) is presently -28.37%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IP. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a report on Tuesday, August 25th. Bank of America lowered shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a research report on Tuesday, July 14th. UBS Group boosted their price objective on shares of International Paper from $40.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of International Paper from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.75.

Insider Activity at International Paper

In other news, VP William Hamic sold 24,500 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

International Paper Profile

International Paper Company NYSE: IP is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.

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