Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.78 Million Stock Holdings in International Paper Company $IP

Key Points

• Fjarde AP Fonden sharply increased its stake in International Paper, boosting holdings by 498.3% in the first quarter to 77,775 shares worth about $2.78 million.
• International Paper reported mixed quarterly results, with EPS of $0.15 missing estimates and revenue of $5.97 billion slightly below forecasts, though revenue still rose 13.4% year over year.
• The company continues to attract income investors, having paid a quarterly dividend of $0.4625 per share, which annualizes to a 4.8% yield; analysts currently rate the stock Moderate Buy on average.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in International Paper Company (NYSE:IP - Free Report) by 498.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,775 shares of the basic materials company's stock after acquiring an additional 64,775 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in International Paper were worth $2,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Mitchell & Pahl Private Wealth LLC increased its position in shares of International Paper by 5.9% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 57,455 shares of the basic materials company's stock valued at $2,051,000 after buying an additional 3,226 shares in the last quarter. Root Financial Partners LLC raised its position in International Paper by 77.9% during the first quarter. Root Financial Partners LLC now owns 1,306 shares of the basic materials company's stock worth $47,000 after acquiring an additional 572 shares in the last quarter. USS Investment Management Ltd increased its position in International Paper by 8.8% during the first quarter. USS Investment Management Ltd now owns 70,599 shares of the basic materials company's stock worth $2,511,000 after buying an additional 5,722 shares during the last quarter. IFM Investors Pty Ltd boosted its position in International Paper by 13.1% during the first quarter. IFM Investors Pty Ltd now owns 94,364 shares of the basic materials company's stock worth $3,369,000 after purchasing an additional 10,951 shares during the period. Finally, Patton Fund Management Inc. lifted its position in International Paper by 9.3% during the first quarter. Patton Fund Management Inc. now owns 6,114 shares of the basic materials company's stock worth $218,000 after acquiring an additional 521 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 0.6%

International Paper stock opened at $38.57 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $20.42 billion, a PE ratio of -6.06 and a beta of 0.94. The firm's fifty day moving average is $34.13 and its 200 day moving average is $38.15. International Paper Company has a 12-month low of $29.26 and a 12-month high of $56.13.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.International Paper's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. As a group, sell-side analysts predict that International Paper Company will post 1.39 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 4.8%. International Paper's payout ratio is currently -29.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IP shares. Royal Bank Of Canada dropped their price target on shares of International Paper from $48.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of International Paper in a research note on Wednesday, April 1st. They issued a "hold" rating and a $38.00 price target on the stock. Truist Financial decreased their price target on shares of International Paper from $48.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Weiss Ratings cut International Paper from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, April 27th. Finally, Zacks Research lowered International Paper from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.73.

Insider Buying and Selling at International Paper

In other news, Director Scott Tozier bought 10,000 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

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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