Amundi Buys 173,533 Shares of International Paper Company $IP

Amundi raised its stake in International Paper Company (NYSE:IP) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,036,749 shares of the basic materials company’s stock after buying an additional 173,533 shares during the period. Amundi owned about 0.39% of International Paper worth $102,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IP. Mutual of America Capital Management LLC increased its stake in International Paper by 47.3% in the first quarter. Mutual of America Capital Management LLC now owns 61,305 shares of the basic materials company’s stock valued at $3,271,000 after acquiring an additional 19,692 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of International Paper in the 1st quarter worth about $295,000. Deutsche Bank AG increased its position in shares of International Paper by 167.6% during the 1st quarter. Deutsche Bank AG now owns 2,580,858 shares of the basic materials company’s stock valued at $137,689,000 after purchasing an additional 1,616,376 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of International Paper by 32.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 24,466 shares of the basic materials company’s stock valued at $1,305,000 after buying an additional 5,971 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of International Paper by 66.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 938,177 shares of the basic materials company’s stock valued at $50,052,000 after buying an additional 374,132 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on IP shares. Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Wells Fargo & Company cut their price objective on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 31st. Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. BNP Paribas upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Monday, November 24th. Finally, Royal Bank Of Canada lowered their price target on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.44.

International Paper Trading Down 0.1%

IP opened at $39.09 on Monday. International Paper Company has a one year low of $35.56 and a one year high of $60.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. The business has a 50 day simple moving average of $42.03 and a two-hundred day simple moving average of $46.16. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of -14.98, a PEG ratio of 1.23 and a beta of 1.09.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. International Paper’s quarterly revenue was up 56.4% compared to the same quarter last year. Analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s payout ratio is currently -70.88%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

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.