SEB Asset Management AB Takes $3.77 Million Position in International Paper Company $IP

SEB Asset Management AB acquired a new stake in International Paper Company (NYSE:IPFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 105,750 shares of the basic materials company’s stock, valued at approximately $3,775,000.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Dynamic Technology Lab Private Ltd acquired a new position in International Paper during the first quarter worth about $249,000. Intech Investment Management LLC lifted its position in shares of International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after acquiring an additional 16,055 shares during the period. Cresset Asset Management LLC boosted its stake in shares of International Paper by 20.8% during the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 2,981 shares in the last quarter. Jump Financial LLC boosted its stake in shares of International Paper by 280.9% during the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock worth $1,784,000 after acquiring an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of International Paper by 8.0% during the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after acquiring an additional 2,493 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity

In related news, Director Scott Tozier purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

International Paper Trading Up 4.8%

Shares of IP opened at $38.10 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $35.31 and a 200-day simple moving average of $37.98. International Paper Company has a 1-year low of $29.26 and a 1-year high of $56.13. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of -5.99 and a beta of 0.94.

International Paper (NYSE:IPGet Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the company posted $0.17 EPS. International Paper’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that International Paper Company will post 1.39 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.9%. International Paper’s payout ratio is presently -29.09%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IP shares. Citigroup raised their price objective on International Paper from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. BNP Paribas Exane decreased their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised their price target on International Paper from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Truist Financial lifted their price target on International Paper from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.31.

Get Our Latest Stock Analysis on IP

About International Paper

(Free Report)

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

See Also

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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