KBC Group NV Purchases 45,982 Shares of International Paper Company (NYSE:IP)

KBC Group NV raised its stake in shares of International Paper Company (NYSE:IP - Free Report) by 99.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,292 shares of the basic materials company's stock after buying an additional 45,982 shares during the quarter. KBC Group NV's holdings in International Paper were worth $4,924,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of International Paper by 46.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,345,216 shares of the basic materials company's stock worth $71,767,000 after buying an additional 426,211 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of International Paper by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 949,897 shares of the basic materials company's stock worth $50,962,000 after buying an additional 71,676 shares during the last quarter. Jag Capital Management LLC bought a new position in shares of International Paper in the 1st quarter valued at about $589,000. Elevated Capital Advisors LLC increased its position in shares of International Paper by 3.2% in the first quarter. Elevated Capital Advisors LLC now owns 24,044 shares of the basic materials company's stock valued at $1,283,000 after acquiring an additional 750 shares during the last quarter. Finally, U S Global Investors Inc. bought a new stake in International Paper during the first quarter worth about $400,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IP shares. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Wells Fargo & Company reissued an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Finally, UBS Group assumed coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, International Paper presently has an average rating of "Hold" and an average price target of $54.54.

International Paper Stock Performance

Shares of IP stock traded up $0.04 on Thursday, hitting $50.43. The company's stock had a trading volume of 2,049,934 shares, compared to its average volume of 6,959,833. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a fifty-two week low of $42.26 and a fifty-two week high of $60.36. The stock's 50 day moving average is $47.21 and its 200-day moving average is $51.21. The company has a market capitalization of $26.62 billion, a PE ratio of 43.10, a PEG ratio of 0.45 and a beta of 1.02.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.67%. International Paper's dividend payout ratio is 158.12%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

About International Paper

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.