Skandinaviska Enskilda Banken AB publ Buys 1,100 Shares of International Paper (NYSE:IP)

Skandinaviska Enskilda Banken AB publ raised its stake in International Paper (NYSE:IP) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,265 shares of the basic materials company’s stock after buying an additional 1,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in International Paper were worth $3,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ranch Capital Advisors Inc. increased its stake in International Paper by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 35,405 shares of the basic materials company’s stock valued at $1,528,000 after acquiring an additional 345 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of International Paper during the 2nd quarter valued at about $317,000. Cowa LLC raised its holdings in shares of International Paper by 18.7% during the 2nd quarter. Cowa LLC now owns 13,043 shares of the basic materials company’s stock valued at $563,000 after buying an additional 2,054 shares in the last quarter. XTX Topco Ltd lifted its position in International Paper by 102.2% in the 2nd quarter. XTX Topco Ltd now owns 23,067 shares of the basic materials company’s stock worth $995,000 after buying an additional 11,658 shares during the last quarter. Finally, Garner Asset Management Corp lifted its holdings in shares of International Paper by 2.4% in the 2nd quarter. Garner Asset Management Corp now owns 86,416 shares of the basic materials company’s stock worth $3,729,000 after acquiring an additional 1,994 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $48.71 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $47.00 and its 200 day simple moving average is $42.78. The stock has a market cap of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04. International Paper has a twelve month low of $31.76 and a twelve month high of $50.68.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts predict that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. International Paper’s dividend payout ratio is presently 377.55%.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent research reports. Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average price target of $50.21.

Insider Buying and Selling

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the transaction, the director now owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $927,956 over the last ninety days. Company insiders own 0.55% of the company’s stock.

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.