International Paper Company (NYSE:IP) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,378 shares of the basic materials company's stock after purchasing an additional 6,077 shares during the period. Assenagon Asset Management S.A.'s holdings in International Paper were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in IP. Jones Financial Companies Lllp raised its position in shares of International Paper by 18.0% during the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock worth $946,000 after purchasing an additional 2,685 shares during the period. Wakefield Asset Management LLLP acquired a new stake in International Paper during the 4th quarter worth about $502,000. Strategic Financial Concepts LLC acquired a new stake in International Paper during the 4th quarter worth about $788,000. Korea Investment CORP lifted its stake in International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock valued at $16,720,000 after buying an additional 213,783 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of International Paper in the fourth quarter worth about $21,307,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company restated an "underweight" rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Truist Financial set a $59.00 price objective on shares of International Paper in a research report on Wednesday, May 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. JPMorgan Chase & Co. started coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Finally, UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $54.54.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

International Paper Trading Down 1.6%

Shares of NYSE:IP opened at $45.82 on Wednesday. The firm has a fifty day moving average of $47.14 and a two-hundred day moving average of $51.88. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. International Paper Company has a 12-month low of $41.50 and a 12-month high of $60.36. The firm has a market capitalization of $24.19 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period in the previous year, the business posted $0.17 EPS. International Paper's revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were paid a $0.4625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.04%. International Paper's payout ratio is 158.12%.

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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