11,500 Shares in International Paper (NYSE:IP) Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,500 shares of the basic materials company’s stock, valued at approximately $619,000.

Several other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its position in International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in International Paper in the third quarter worth $24,327,000. Aptus Capital Advisors LLC raised its position in International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital purchased a new position in International Paper in the fourth quarter worth $376,000. Finally, Curi RMB Capital LLC purchased a new position in International Paper in the third quarter worth $4,870,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Up 0.9 %

Shares of IP stock opened at $55.78 on Thursday. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The stock has a market cap of $19.38 billion, a P/E ratio of 35.53, a P/E/G ratio of 0.39 and a beta of 1.02. The business has a fifty day simple moving average of $55.63 and a 200-day simple moving average of $52.91. 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 (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the subject of several research analyst reports. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

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.