International Paper Company $IP Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in International Paper Company by 6.8%, now owning 190,006 shares valued at approximately $8.9 million.
• International Paper reported a loss of $0.18 per share in its latest earnings, missing analysts' consensus estimate of $0.38, despite a year-over-year revenue increase of 42.9%.
• The company announced a quarterly dividend of $0.4625 per share, with an annualized yield of 4.0%, although it currently has a significant negative payout ratio of -1,850%.

KLP Kapitalforvaltning AS increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,006 shares of the basic materials company's stock after purchasing an additional 12,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in International Paper were worth $8,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IP. Rise Advisors LLC increased its stake in shares of International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock worth $25,000 after acquiring an additional 346 shares during the period. Zions Bancorporation National Association UT purchased a new stake in International Paper in the first quarter valued at $34,000. Citizens National Bank Trust Department acquired a new stake in International Paper during the 1st quarter worth about $37,000. Quintet Private Bank Europe S.A. purchased a new position in shares of International Paper during the 2nd quarter valued at about $37,000. Finally, Grove Bank & Trust raised its stake in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after buying an additional 623 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Down 0.5%

Shares of IP stock opened at $46.43 on Friday. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock's fifty day moving average is $47.19 and its two-hundred day moving average is $48.21. The firm has a market capitalization of $24.51 billion, a P/E ratio of -464.30, a PEG ratio of 0.53 and a beta of 1.10.

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

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, August 15th. International Paper's payout ratio is currently -1,850.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on IP shares. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Jefferies Financial Group dropped their price objective on shares of International Paper from $61.00 to $59.00 and set a "buy" rating on the stock in a research note on Friday, September 26th. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $44.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $55.58.

Insider Buying and Selling at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company's stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.

International Paper 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.

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