Banque Cantonale Vaudoise Acquires New Position in International Paper Company (NYSE:IP)

Banque Cantonale Vaudoise purchased a new stake in shares of International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 57,121 shares of the basic materials company's stock, valued at approximately $3,048,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IP. Norges Bank purchased a new stake in International Paper in the fourth quarter worth $109,201,000. Allstate Corp purchased a new stake in International Paper in the fourth quarter worth $524,000. Schroder Investment Management Group increased its stake in International Paper by 588.7% in the fourth quarter. Schroder Investment Management Group now owns 301,538 shares of the basic materials company's stock worth $16,178,000 after purchasing an additional 257,752 shares during the period. Clearbridge Investments LLC increased its stake in International Paper by 645.6% in the fourth quarter. Clearbridge Investments LLC now owns 577,453 shares of the basic materials company's stock worth $31,079,000 after purchasing an additional 500,001 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in International Paper by 1.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 78,922 shares of the basic materials company's stock worth $4,248,000 after purchasing an additional 1,148 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IP shares. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group assumed coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, International Paper has a consensus rating of "Hold" and an average target price of $55.65.

International Paper Stock Down 12.8%

International Paper stock traded down $6.89 during trading hours on Thursday, reaching $46.74. The stock had a trading volume of 16,289,721 shares, compared to its average volume of 6,688,170. The company has a market cap of $24.67 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 0.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96. The business's 50 day moving average price is $49.28 and its 200-day moving average price is $50.93. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The business's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. International Paper's payout ratio is currently 158.12%.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company's stock.

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.