Erste Asset Management GmbH Increases Position in International Paper Company $IP

Erste Asset Management GmbH lifted its holdings in shares of International Paper Company (NYSE:IP) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 149,400 shares of the basic materials company’s stock after acquiring an additional 27,700 shares during the quarter. Erste Asset Management GmbH’s holdings in International Paper were worth $5,955,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Syon Capital LLC bought a new stake in International Paper in the fourth quarter valued at about $380,000. Capital World Investors increased its holdings in International Paper by 1.8% in the fourth quarter. Capital World Investors now owns 6,332,121 shares of the basic materials company’s stock valued at $249,422,000 after buying an additional 111,311 shares during the last quarter. Capital Research Global Investors increased its holdings in International Paper by 0.4% in the fourth quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after buying an additional 204,654 shares during the last quarter. Capital International Sarl increased its holdings in International Paper by 79.2% in the fourth quarter. Capital International Sarl now owns 92,304 shares of the basic materials company’s stock valued at $3,636,000 after buying an additional 40,786 shares during the last quarter. Finally, Capital International Ltd. CA increased its holdings in International Paper by 63.2% in the fourth quarter. Capital International Ltd. CA now owns 35,285 shares of the basic materials company’s stock valued at $1,390,000 after buying an additional 13,664 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

Shares of IP stock opened at $34.10 on Wednesday. International Paper Company has a 12-month low of $29.26 and a 12-month high of $56.13. The firm has a market capitalization of $18.06 billion, a price-to-earnings ratio of -5.36 and a beta of 0.96. The business has a 50 day simple moving average of $33.66 and a 200 day simple moving average of $38.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94.

International Paper (NYSE:IP) last issued its quarterly earnings data 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 return on equity of 0.49% and a negative net margin of 13.42%.The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the company earned $0.17 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper Company will post 1.38 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is presently -29.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IP. Wells Fargo & Company raised International Paper from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $39.00 in a report on Monday, May 4th. Citigroup lowered their target price on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings lowered International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. BNP Paribas Exane lowered their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Finally, Royal Bank Of Canada lowered their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Insiders Place Their Bets

In other news, Director Anders Gustafsson purchased 13,217 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $37.83 per share, with a total value of $499,999.11. Following the purchase, the director owned 26,092 shares in the company, valued at $987,060.36. This trade represents a 102.66% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Tozier purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares in the company, valued at $313,782.50. This represents a 40,000.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

About International Paper

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.