Livforsakringsbolaget Skandia Omsesidigt Sells 1,000 Shares of International Paper (NYSE:IP)

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of International Paper (NYSE:IP) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,576 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in International Paper were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IP. Capital Research Global Investors lifted its stake in shares of International Paper by 68.8% during the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares during the last quarter. FMR LLC lifted its stake in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after purchasing an additional 8,720,575 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock valued at $212,522,000 after buying an additional 2,266,762 shares during the last quarter. Norges Bank purchased a new stake in International Paper in the fourth quarter valued at about $109,201,000. Finally, Slate Path Capital LP purchased a new stake in International Paper in the fourth quarter valued at about $102,796,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 0.8%

International Paper stock opened at $47.60 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52 week low of $41.50 and a 52 week high of $60.36. The company has a market capitalization of $25.13 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. The stock has a 50-day moving average price of $47.15 and a 200 day moving average price of $52.31.

International Paper (NYSE:IP) last released 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 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. Sell-side analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.89%. International Paper’s dividend payout ratio is presently 158.12%.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IP shares. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company reiterated an “underweight” rating and issued a $40.00 price target (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. UBS Group started coverage on International Paper in a research note on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, International Paper has a consensus rating of “Hold” and an average price target of $54.54.

International Paper 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.