Danske Bank A S Makes New $9.43 Million Investment in International Paper Company $IP

Danske Bank A S acquired a new stake in shares of International Paper Company (NYSE:IP) during the 2nd quarter, Holdings Channel reports. The firm acquired 247,477 shares of the basic materials company’s stock, valued at approximately $9,429,000.

Other hedge funds have also added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its holdings in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares during the period. MV Capital Management Inc. bought a new stake in shares of International Paper during the 4th quarter worth $25,000. DV Equities LLC purchased a new position in shares of International Paper in the 4th quarter worth about $29,000. Ascentis Independent Advisors bought a new position in shares of International Paper during the 1st quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors bought a new stake in shares of International Paper in the third quarter valued at $36,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $41.53 on Friday. The stock has a 50-day moving average price of $39.21 and a 200-day moving average price of $37.92. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The firm has a market cap of $21.99 billion, a PE ratio of -6.37 and a beta of 0.94.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the firm posted $0.20 earnings per share. International Paper’s revenue was down 11.3% compared to the same quarter last year. Sell-side analysts predict that International Paper Company will post 1.34 earnings per share 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. Investors of record on Friday, August 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio is currently -28.37%.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the transaction, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent research reports. Citigroup upped their price target on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, July 31st. UBS Group raised their target price on shares of International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Wells Fargo & Company raised their price target on International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Company Profile

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.