Deutsche Bank AG Acquires New Shares in International Paper Company $IP

Key Points

• Deutsche Bank acquired 2.04 million International Paper shares worth approximately $77.6 million, giving it a 0.38% stake. Institutional investors collectively own 81.95% of the company.
• Analyst sentiment is generally positive: International Paper has a consensus “Moderate Buy” rating and an average price target of $48.75, with JPMorgan upgrading the stock to “overweight.”
• International Paper beat quarterly EPS estimates but reported an 11.3% year-over-year revenue decline. The company declared a quarterly dividend of $0.4625, representing a 4.6% annualized yield.

Deutsche Bank AG acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,036,838 shares of the basic materials company's stock, valued at approximately $77,604,000. Deutsche Bank AG owned approximately 0.38% of International Paper as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its holdings in shares of International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock worth $25,000 after buying an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new position in International Paper in the 4th quarter valued at $25,000. Ascentis Independent Advisors purchased a new position in shares of International Paper during the 1st quarter valued at $28,000. DV Equities LLC bought a new position in shares of International Paper in the fourth quarter worth $29,000. Finally, Summit Securities Group LLC increased its holdings in shares of International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company's stock worth $31,000 after purchasing an additional 5,875 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on International Paper from $40.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upgraded International Paper from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $51.00 to $61.00 in a research note on Tuesday, July 28th. Loop Capital set a $61.00 price target on International Paper in a report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of International Paper in a research report on Friday, July 24th. Finally, Royal Bank Of Canada boosted their price objective on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, International Paper presently has an average rating of "Moderate Buy" and a consensus price target of $48.75.

International Paper Stock Performance

NYSE IP opened at $40.42 on Friday. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The company has a market capitalization of $21.41 billion, a P/E ratio of -6.20 and a beta of 0.94. The company has a fifty day moving average of $39.10 and a 200-day moving average of $37.90.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The firm's revenue was down 11.3% on a year-over-year basis. As a group, equities research analysts predict that International Paper Company will post 1.34 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, August 14th. International Paper's dividend payout ratio is presently -28.37%.

Insider Activity

In related news, VP William Thomas Hamic sold 24,500 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the company'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 sale, the chief accounting officer directly owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

About International Paper

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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