BI Asset Management Fondsmaeglerselskab A S Boosts Stock Holdings in International Paper Company $IP

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in International Paper Company by 32.5%, acquiring a total of 21,060 shares valued at approximately $1.12 million.
• Despite a 42.9% revenue increase year-over-year, International Paper reported earnings of $0.20 per share, missing estimates by $0.18.
• The company is set to pay a quarterly dividend of $0.4625 on September 16th, 2023, reflecting an annual yield of 3.8%.

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 32.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,060 shares of the basic materials company's stock after acquiring an additional 5,163 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in International Paper were worth $1,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IP. Vanguard Group Inc. lifted its stake in International Paper by 52.0% in the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in International Paper by 19.4% in the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock valued at $914,712,000 after purchasing an additional 2,782,042 shares during the last quarter. Nuveen LLC acquired a new stake in International Paper in the 1st quarter valued at approximately $132,900,000. Bessemer Group Inc. increased its holdings in International Paper by 3,304.9% in the 1st quarter. Bessemer Group Inc. now owns 2,547,255 shares of the basic materials company's stock valued at $135,897,000 after purchasing an additional 2,472,443 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in International Paper by 134.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock valued at $212,522,000 after purchasing an additional 2,266,762 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. UBS Group began coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Truist Financial set a $59.00 price target on shares of International Paper in a research note on Wednesday, May 28th. Finally, Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, International Paper presently has an average rating of "Hold" and an average target price of $55.46.

International Paper Stock Performance

IP traded down $0.25 on Wednesday, reaching $48.53. The company had a trading volume of 1,273,590 shares, compared to its average volume of 6,402,125. The stock has a 50-day moving average price of $49.32 and a 200-day moving average price of $49.67. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $25.62 billion, a PE ratio of -485.30, a P/E/G ratio of 0.64 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the prior year, the business earned $0.55 EPS. The business's quarterly revenue was up 42.9% compared to the same quarter last year. As a group, research analysts forecast that International Paper Company will post 2.77 EPS 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. Investors of record on Friday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. International Paper's dividend payout ratio (DPR) is currently -1,850.00%.

International Paper Company Profile

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.