International Paper Company $IP Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its stake in International Paper by 44.2% in the fourth quarter, selling 58,562 shares and leaving it with 74,020 shares worth about $2.9 million.
• Analysts remain mixed on the stock, with a consensus rating of “Moderate Buy” and an average price target of $43.73. Recent calls included both price-target cuts and an upgrade from Wells Fargo to overweight.
• International Paper reported Q1 earnings of $0.15 per share, missing expectations, while revenue came in slightly below estimates at $5.97 billion. The company also announced a quarterly dividend of $0.4625 per share, implying a 5.9% annual yield.

Handelsbanken Fonder AB trimmed its position in International Paper Company (NYSE:IP - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,020 shares of the basic materials company's stock after selling 58,562 shares during the period. Handelsbanken Fonder AB's holdings in International Paper were worth $2,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. International Private Wealth Advisors LLC boosted its stake in International Paper by 4.1% in the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company's stock valued at $243,000 after acquiring an additional 243 shares in the last quarter. Independent Advisor Alliance lifted its stake in shares of International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock worth $305,000 after buying an additional 244 shares during the period. Horizon Investments LLC lifted its stake in shares of International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock worth $333,000 after buying an additional 267 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of International Paper by 0.6% during the third quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company's stock worth $2,088,000 after buying an additional 268 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of International Paper by 5.2% during the third quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company's stock worth $253,000 after buying an additional 271 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of International Paper in a research note on Wednesday, April 1st. They set a "hold" rating and a $38.00 price objective for the company. Truist Financial lowered their price objective on shares of International Paper from $48.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Wells Fargo & Company upgraded shares of International Paper from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $38.00 to $39.00 in a research note on Monday, May 4th. Stifel Nicolaus lowered their price objective on shares of International Paper from $51.80 to $50.70 and set a "buy" rating for the company in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of International Paper from $46.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.73.

Insiders Place Their Bets

In other International Paper news, Director Anders Gustafsson bought 13,217 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares of the company's stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Tozier bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $31.30 per share, with a total value of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares of the company's stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 36,092 shares of company stock valued at $1,313,064 over the last 90 days. 0.21% of the stock is currently owned by insiders.

International Paper Trading Down 0.7%

NYSE IP opened at $31.28 on Friday. The company has a market capitalization of $16.56 billion, a PE ratio of -4.92 and a beta of 0.93. The company has a fifty day moving average of $34.33 and a 200 day moving average of $38.68. International Paper Company has a 1 year low of $29.26 and a 1 year high of $56.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results 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 business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Research analysts forecast that International Paper Company will post 1.38 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a yield of 5.9%. International Paper's payout ratio is currently -29.09%.

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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