Avanza Fonder AB Acquires 11,493 Shares of International Paper (NYSE:IP)

Avanza Fonder AB boosted its position in International Paper (NYSE:IP - Free Report) by 31.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,087 shares of the basic materials company's stock after acquiring an additional 11,493 shares during the period. Avanza Fonder AB's holdings in International Paper were worth $2,619,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in International Paper in the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper in the fourth quarter worth about $26,000. Picton Mahoney Asset Management lifted its holdings in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after buying an additional 215 shares during the period. Venturi Wealth Management LLC increased its stake in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in shares of International Paper during the fourth quarter valued at approximately $37,000. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

International Paper Price Performance

Shares of IP traded up $0.06 during trading hours on Thursday, reaching $47.14. 2,746,619 shares of the stock traded hands, compared to its average volume of 7,381,869. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $41.50 and a 52-week high of $60.36. The company's 50-day moving average price is $47.14 and its two-hundred day moving average price is $52.19. The company has a market cap of $24.89 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share 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 quarter last year, the firm posted $0.17 EPS. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. On average, analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.92%. International Paper's dividend payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in 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 note on Wednesday, March 26th. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. Finally, UBS Group began coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price for the company. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $54.54.

About International Paper

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.