Danske Bank A S Makes New Investment in International Paper Company $IP

Key Points

• Danske Bank acquired 247,477 shares of International Paper during the second quarter, valued at approximately $9.4 million. Institutional investors collectively own about 81.95% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $48.75, compared with the stock’s reported price of $41.53.
• International Paper beat quarterly EPS expectations with $0.04 versus the projected loss of $0.04, but revenue fell 11.3% year over year to $6 billion. The company also declared a quarterly dividend of $0.4625, implying a 4.5% annualized yield.

Danske Bank A S acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 247,477 shares of the basic materials company's stock, valued at approximately $9,429,000.

A number of other institutional investors have also bought and sold shares of IP. DNB Asset Management AS increased its position in shares of International Paper by 144.2% in the 4th quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock valued at $10,199,000 after purchasing an additional 152,907 shares during the last quarter. D.A. Davidson & CO. grew its position in International Paper by 29.6% in the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock valued at $4,921,000 after buying an additional 31,518 shares during the last quarter. Bellwether Advisors LLC acquired a new position in shares of International Paper during the first quarter worth about $2,615,000. Norges Bank purchased a new position in shares of International Paper during the 4th quarter worth approximately $250,093,000. Finally, Franklin Resources Inc. raised its position in International Paper by 81.6% in the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock worth $584,270,000 after acquiring an additional 6,663,986 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Seaport Research Partners reissued a "buy" rating and set a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Monday, August 17th. Truist Financial reiterated a "buy" rating and issued a $49.00 price target (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Bank of America downgraded shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price target on the stock. in a research note on Tuesday, July 14th. Finally, Zacks Research raised shares of International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.75.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the transaction, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William Thomas Hamic sold 24,500 shares of the business's stock in a transaction on Friday, August 7th. The stock was 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 approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

International Paper Stock Performance

Shares of International Paper stock opened at $41.53 on Friday. 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 fifty-two week low of $29.26 and a fifty-two week high of $50.25. The firm has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. The firm has a 50 day simple moving average of $39.21 and a 200 day simple moving average of $37.92.

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

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's payout ratio is currently -28.37%.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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