TD Asset Management Inc Has $13.77 Million Position in International Paper Company (NYSE:IP)

TD Asset Management Inc increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 110.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,117 shares of the basic materials company's stock after acquiring an additional 135,325 shares during the quarter. TD Asset Management Inc's holdings in International Paper were worth $13,771,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of IP. Summit Financial LLC boosted its holdings in shares of International Paper by 4.3% in the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock valued at $293,000 after acquiring an additional 224 shares during the last quarter. Greenleaf Trust raised its position in International Paper by 2.5% during the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after acquiring an additional 224 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after buying an additional 231 shares during the last quarter. Csenge Advisory Group raised its position in shares of International Paper by 1.5% in the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after buying an additional 234 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of International Paper by 6.0% in the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

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

International Paper Stock Performance

IP traded down $6.89 during trading hours on Thursday, hitting $46.74. 16,289,721 shares of the stock were exchanged, compared to its average volume of 3,943,986. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 39.95, a price-to-earnings-growth ratio of 0.49 and a beta of 1.02. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The stock has a 50-day simple moving average of $49.28 and a 200-day simple moving average of $50.93.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. International Paper's revenue was up 42.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is currently 158.12%.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the firm'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 value of $336,375.00. Following the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by corporate 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.