Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in International Paper Company (NYSE:IP)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in International Paper Company by 47.6% during the first quarter, owning a total of 112,539 shares valued at $6,004,000.
• Several large investors, including Price T Rowe Associates and Capital Research Global Investors, also boosted their positions in International Paper, with institutional investors owning 81.95% of the stock.
• International Paper declared a quarterly dividend of $0.4625, resulting in an annualized yield of 3.32%, although its current dividend payout ratio is notably high at 158.12%.

Skandinaviska Enskilda Banken AB publ increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 47.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,539 shares of the basic materials company's stock after purchasing an additional 36,274 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in International Paper were worth $6,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in International Paper in the 4th quarter valued at $37,000. Citizens National Bank Trust Department purchased a new position in shares of International Paper in the 1st quarter worth about $37,000. Transce3nd LLC purchased a new position in shares of International Paper in the 4th quarter worth about $38,000. Grove Bank & Trust raised its stake in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 623 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in International Paper in the 1st quarter valued at about $42,000. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IP shares. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. UBS Group assumed coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $55.65.

International Paper Stock Performance

NYSE:IP traded down $4.68 on Thursday, hitting $48.95. The stock had a trading volume of 6,496,355 shares, compared to its average volume of 6,616,522. International Paper Company has a 52-week low of $43.27 and a 52-week 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 0.51. The stock has a market cap of $25.84 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.02. The business's 50-day simple moving average is $49.28 and its two-hundred day simple moving average is $50.93.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a net margin of 1.99% and a return on equity of 4.05%. During the same period in the previous year, the firm earned $0.55 EPS. The business's revenue was up 42.9% compared to the same quarter last year. As a group, research analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is 158.12%.

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.