Banque Cantonale Vaudoise Boosts Stake in International Paper (NYSE:IP)

Banque Cantonale Vaudoise raised its holdings in International Paper (NYSE:IPFree Report) by 130.2% during the third quarter, HoldingsChannel reports. The firm owned 22,557 shares of the basic materials company’s stock after buying an additional 12,757 shares during the period. Banque Cantonale Vaudoise’s holdings in International Paper were worth $800,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of IP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in International Paper by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock valued at $2,391,000 after purchasing an additional 3,209 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of International Paper by 4.5% in the first quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock valued at $399,000 after acquiring an additional 369 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its holdings in shares of International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 211 shares in the last quarter. Cibc World Market Inc. purchased a new stake in shares of International Paper in the first quarter valued at about $206,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of International Paper by 1.6% in the first quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock valued at $1,947,000 after acquiring an additional 676 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.5 %

IP stock opened at $33.14 on Wednesday. The company has a market cap of $11.47 billion, a P/E ratio of 40.41 and a beta of 0.99. International Paper has a 52 week low of $29.00 and a 52 week high of $40.76. The company’s 50-day moving average price is $36.56 and its 200 day moving average price is $35.14. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IPGet Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, research analysts expect that International Paper will post 2.13 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Wednesday, February 21st. International Paper’s payout ratio is currently 225.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IP shares. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Jefferies Financial Group lowered their target price on shares of International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, October 18th. Wells Fargo & Company lowered their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Finally, Truist Financial decreased their price objective on shares of International Paper from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.00.

Read Our Latest Stock Report on International Paper

International Paper Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Further Reading

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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