Nordea Investment Management AB Has $14.54 Million Position in International Paper (NYSE:IP)

Nordea Investment Management AB raised its holdings in shares of International Paper (NYSE:IP) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,044 shares of the basic materials company’s stock after purchasing an additional 4,695 shares during the quarter. Nordea Investment Management AB’s holdings in International Paper were worth $14,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new stake in shares of International Paper during the 3rd quarter worth about $24,327,000. Aptus Capital Advisors LLC boosted its holdings in shares of International Paper by 15.1% during 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 during the period. Curi RMB Capital LLC acquired a new position in shares of International Paper in the third quarter valued at approximately $4,870,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of International Paper by 5.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock worth $45,788,000 after purchasing an additional 49,125 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in International Paper during the 4th quarter worth approximately $828,000. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

IP stock opened at $54.74 on Thursday. The company’s 50-day moving average price is $56.27 and its two-hundred day moving average price is $50.13. The firm has a market cap of $19.02 billion, a P/E ratio of 46.79 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, analysts anticipate that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.38%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 2,400 shares of company stock valued at $129,696 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on IP. Royal Bank of Canada upped their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Finally, Truist Financial lifted their price objective on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.99.

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.