KBC Group NV Sells 486,097 Shares of International Paper Company $IP

Key Points

• KBC Group NV sharply reduced its International Paper stake by 81.5% in the first quarter, selling 486,097 shares and leaving it with 110,531 shares valued at about $3.95 million.
• Analysts remain mixed but generally constructive: the stock has an average rating of “Moderate Buy” with an average price target of $44.31, while recent moves included higher targets from Truist and RBC and a downgrade from Bank of America.
• International Paper reported Q1 EPS of $0.15, missing estimates, though revenue rose 13.4% year over year; the company also announced a quarterly dividend of $0.4625 per share, implying a 4.9% yield.

KBC Group NV lowered its stake in International Paper Company (NYSE:IP - Free Report) by 81.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,531 shares of the basic materials company's stock after selling 486,097 shares during the period. KBC Group NV's holdings in International Paper were worth $3,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DNB Asset Management AS boosted its holdings in shares of International Paper by 144.2% in the fourth quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock valued at $10,199,000 after buying an additional 152,907 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of International Paper by 764.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 212,999 shares of the basic materials company's stock worth $8,390,000 after acquiring an additional 188,357 shares during the period. D.A. Davidson & CO. raised its holdings in shares of International Paper by 29.6% during the first quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock worth $4,921,000 after acquiring an additional 31,518 shares during the period. Alpha Omega Wealth Management LLC bought a new stake in International Paper in the 4th quarter valued at $1,539,000. Finally, AE Wealth Management LLC lifted its position in International Paper by 12.8% in the 4th quarter. AE Wealth Management LLC now owns 374,851 shares of the basic materials company's stock valued at $14,765,000 after acquiring an additional 42,541 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial lifted their price target on International Paper from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Bank of America cut International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft assumed coverage on International Paper in a research report on Wednesday, April 1st. They issued a "hold" rating and a $38.00 target price on the stock. Seaport Research Partners upgraded International Paper from a "neutral" rating to a "buy" rating and set a $39.00 target price on the stock in a research note on Friday, May 1st. Finally, Royal Bank Of Canada upped their price target on International Paper from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.31.

International Paper Trading Down 0.4%

International Paper stock opened at $37.95 on Friday. The company has a market cap of $20.10 billion, a price-to-earnings ratio of -5.97 and a beta of 0.94. The firm has a 50-day moving average of $35.44 and a 200-day moving average of $37.96. 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 Company has a one year low of $29.26 and a one year high of $56.13.

International Paper (NYSE:IP - Get Free Report) last released 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). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm posted $0.17 EPS. International Paper's revenue was up 13.4% compared to the same quarter last year. On average, equities analysts expect that International Paper Company will post 1.39 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper's payout ratio is -29.09%.

Insider Activity

In related news, Director Scott Tozier acquired 10,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

International Paper Company 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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