Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Position in International Paper Company $IP

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of International Paper Company (NYSE:IP) by 498.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 77,775 shares of the basic materials company’s stock after buying an additional 64,775 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in International Paper were worth $2,777,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IP. Dynamic Technology Lab Private Ltd bought a new stake in shares of International Paper in the 1st quarter worth $249,000. Intech Investment Management LLC boosted its stake in shares of International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in International Paper by 20.8% during the second 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 during the period. Jump Financial LLC lifted its holdings in International Paper by 280.9% during the second 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 during the period. Finally, Cerity Partners LLC boosted its position in International Paper by 8.0% in the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after purchasing an additional 2,493 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IP has been the subject of several research analyst reports. Wells Fargo & Company raised International Paper from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $39.00 in a research report on Monday, May 4th. Royal Bank Of Canada dropped their target price on shares of International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Truist Financial lowered their price target on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Finally, BNP Paribas Exane reduced their price objective on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.73.

Insiders Place Their Bets

In other news, Director Scott Tozier purchased 10,000 shares of the stock in a transaction dated 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 acquisition, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

International Paper Stock Performance

Shares of IP stock opened at $38.57 on Tuesday. International Paper Company has a 12 month low of $29.26 and a 12 month high of $56.13. The stock has a market capitalization of $20.42 billion, a P/E ratio of -6.06 and a beta of 0.94. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $34.13 and its 200 day moving average is $38.15.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. On average, sell-side analysts anticipate that International Paper Company will post 1.39 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were paid a $0.4625 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.85 annualized dividend and a yield of 4.8%. International Paper’s dividend payout ratio (DPR) is currently -29.09%.

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.