Banque Transatlantique SA Purchases New Holdings in International Paper Company $IP

Key Points

• Banque Transatlantique SA has made a new investment of approximately $6.88 million in International Paper Company, acquiring 139,455 shares in the first quarter.
• Institutional investors and hedge funds own 81.95% of International Paper's stock, highlighting significant institutional interest in the company.
• International Paper recently reported quarterly earnings, missing estimates with an EPS of $0.20, while revenue for the quarter reached $6.77 billion, surpassing analysts' expectations.

Banque Transatlantique SA purchased a new position in shares of International Paper Company (NYSE:IP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 139,455 shares of the basic materials company's stock, valued at approximately $6,879,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AXA S.A. lifted its holdings in shares of International Paper by 205.9% during the 4th quarter. AXA S.A. now owns 50,342 shares of the basic materials company's stock worth $2,709,000 after acquiring an additional 33,886 shares during the period. Cary Street Partners Financial LLC bought a new stake in International Paper in the fourth quarter valued at $409,000. CastleKnight Management LP acquired a new position in shares of International Paper during the fourth quarter valued at $1,415,000. Ethic Inc. grew its holdings in International Paper by 35.4% during the fourth quarter. Ethic Inc. now owns 22,457 shares of the basic materials company's stock worth $1,209,000 after acquiring an additional 5,870 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in International Paper by 4.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 116,406 shares of the basic materials company's stock worth $6,265,000 after acquiring an additional 4,555 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report 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 price target on the stock. Zacks Research lowered International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and upped their price objective for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Finally, JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, International Paper currently has an average rating of "Hold" and a consensus price target of $55.65.

International Paper Price Performance

NYSE IP traded up $0.32 during midday trading on Friday, hitting $48.63. The company had a trading volume of 2,605,843 shares, compared to its average volume of 3,491,029. The company has a market capitalization of $25.68 billion, a PE ratio of -486.30, a P/E/G ratio of 0.55 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $49.72 and a 200-day moving average price of $49.28. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. International Paper's revenue was up 42.9% on a year-over-year basis. As a group, analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is -1,850.00%.

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.