BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 13,279 Shares of International Paper (NYSE:IP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in International Paper (NYSE:IP) by 41.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,037 shares of the basic materials company’s stock after selling 13,279 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in International Paper were worth $821,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IP. Innealta Capital LLC acquired a new position in International Paper during the 2nd quarter worth about $26,000. Arkadios Wealth Advisors grew its stake in shares of International Paper by 13.0% during the second quarter. Arkadios Wealth Advisors now owns 33,257 shares of the basic materials company’s stock valued at $1,435,000 after purchasing an additional 3,824 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of International Paper in the second quarter valued at approximately $237,000. 1834 Investment Advisors Co. bought a new position in International Paper in the 2nd quarter worth approximately $506,000. Finally, Atomi Financial Group Inc. lifted its holdings in International Paper by 12.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 6,307 shares of the basic materials company’s stock worth $272,000 after buying an additional 682 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Up 0.6 %

Shares of NYSE:IP opened at $48.42 on Tuesday. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of 98.82 and a beta of 1.06. International Paper has a 12 month low of $31.76 and a 12 month high of $49.24. The company’s fifty day simple moving average is $45.72 and its 200 day simple moving average is $41.49. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

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, beating the consensus estimate of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, research analysts forecast that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.82%. International Paper’s dividend payout ratio is currently 377.55%.

Insider Activity

In related news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at $2,433,296.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $573,822 over the last ninety days. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IP. Royal Bank of Canada boosted their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price 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. Truist Financial lifted their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus initiated coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Three 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Company 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.