International Paper (NYSE:IP) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its holdings in International Paper (NYSE:IP - Free Report) by 52.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,982 shares of the basic materials company's stock after selling 182,470 shares during the period. Nordea Investment Management AB's holdings in International Paper were worth $6,400,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Venturi Wealth Management LLC increased its position in International Paper by 37.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 295 shares during the last quarter. Czech National Bank increased its position in International Paper by 0.5% during the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company's stock valued at $2,376,000 after acquiring an additional 295 shares during the last quarter. Kentucky Retirement Systems increased its position in International Paper by 1.1% during the fourth quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company's stock valued at $1,001,000 after acquiring an additional 298 shares during the last quarter. 180 Wealth Advisors LLC increased its position in International Paper by 4.2% during the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company's stock valued at $306,000 after acquiring an additional 318 shares during the last quarter. Finally, Outfitter Financial LLC increased its position in International Paper by 1.1% during the fourth quarter. Outfitter Financial LLC now owns 30,350 shares of the basic materials company's stock valued at $1,097,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated 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 directly owns 42,802 shares in the company, valued at $1,830,641.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 3,600 shares of company stock worth $147,054. 0.55% of the stock is owned by corporate insiders.

International Paper Stock Down 1.4 %

NYSE:IP traded down $0.61 during mid-day trading on Tuesday, reaching $42.56. The company's stock had a trading volume of 4,306,565 shares, compared to its average volume of 5,789,391. International Paper has a 1 year low of $30.78 and a 1 year high of $47.40. The stock has a fifty day moving average of $42.83 and a 200-day moving average of $38.67. The firm has a market capitalization of $14.78 billion, a PE ratio of 87.12 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same period last year, the company earned $0.53 earnings per share. The firm's revenue was down 8.0% compared to the same quarter last year. Equities research analysts forecast that International Paper will post 1.9 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.35%. International Paper's dividend payout ratio is presently 377.55%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IP. Citigroup upgraded shares of International Paper from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Jefferies Financial Group raised shares of International Paper from a "hold" rating to a "buy" rating and boosted their target price for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Truist Financial reissued a "buy" rating and set a $52.00 target price on shares of International Paper in a research note on Thursday, June 27th. Wells Fargo & Company boosted their target price on shares of International Paper from $37.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, May 30th. Finally, Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday. They set a "hold" rating and a $48.70 target price for the company. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.21.

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.