Victory Capital Management Inc. Has $34.92 Million Stake in International Paper Company (NYSE:IP)

Victory Capital Management Inc. boosted its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 654,507 shares of the basic materials company's stock after buying an additional 47,114 shares during the quarter. Victory Capital Management Inc. owned 0.12% of International Paper worth $34,918,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IP. Bernard Wealth Management Corp. acquired a new stake in shares of International Paper during the fourth quarter worth $37,000. Transce3nd LLC bought a new stake in shares of International Paper in the 4th quarter valued at approximately $38,000. Citizens National Bank Trust Department acquired a new position in International Paper during the 1st quarter worth $37,000. Grove Bank & Trust raised its stake in shares of International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after buying an additional 623 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in shares of International Paper in the 1st quarter worth $42,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent research reports. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price target (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. UBS Group began coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price for the company. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, International Paper has a consensus rating of "Hold" and a consensus price target of $55.65.

International Paper Price Performance

IP stock traded up $0.72 during mid-day trading on Thursday, hitting $54.82. The company had a trading volume of 2,117,845 shares, compared to its average volume of 6,637,664. The company has a market capitalization of $28.94 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 0.48 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 company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $48.78 and a 200 day moving average price of $50.91.

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

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 3.37%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction 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 sale, the chief accounting officer directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company's stock.

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.