Lansforsakringar Fondforvaltning AB publ Buys 58,054 Shares of International Paper Company $IP

Key Points

• Lansforsakringar Fondforvaltning AB increased its holdings in International Paper Company by 51.7% during the first quarter, owning 170,434 shares worth approximately $9.09 million.
• Several other institutional investors have also bought stakes in International Paper, with institutional ownership currently at 81.95%.
• International Paper reported a missed earnings estimate for the last quarter, with an EPS of $0.20 compared to the consensus estimate of $0.38.

Lansforsakringar Fondforvaltning AB publ grew its position in shares of International Paper Company (NYSE:IP - Free Report) by 51.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,434 shares of the basic materials company's stock after purchasing an additional 58,054 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in International Paper were worth $9,093,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IP. Zions Bancorporation National Association UT bought a new stake in shares of International Paper during the 1st quarter worth $34,000. Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the 4th quarter worth $37,000. Citizens National Bank Trust Department bought a new stake in shares of International Paper during the 1st quarter worth $37,000. Grove Bank & Trust lifted its holdings 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 worth $40,000 after acquiring an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in shares of International Paper during the 1st quarter worth $42,000. Institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research analyst reports. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and increased their price target for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, International Paper has a consensus rating of "Hold" and an average price target of $55.65.

International Paper Trading Up 0.2%

Shares of NYSE:IP traded up $0.11 on Thursday, hitting $48.28. The company had a trading volume of 4,299,550 shares, compared to its average volume of 3,444,010. The firm's 50-day simple moving average is $49.69 and its two-hundred day simple moving average is $49.39. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of -482.80, a P/E/G ratio of 0.54 and a beta of 1.05.

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

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio (DPR) is presently -1,850.00%.

International Paper Company 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.