Oddo BHF Asset Management Sas Buys Shares of 18,323 International Paper (NYSE:IP)

Oddo BHF Asset Management Sas bought a new position in shares of International Paper (NYSE:IP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,323 shares of the basic materials company's stock, valued at approximately $895,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its holdings in shares of International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company's stock worth $160,000 after acquiring an additional 177 shares during the period. Empirical Finance LLC increased its position in shares of International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company's stock valued at $599,000 after buying an additional 224 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of International Paper by 20.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company's stock worth $68,000 after buying an additional 239 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of International Paper by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company's stock worth $3,306,000 after buying an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc grew its stake in International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company's stock valued at $4,854,000 after acquiring an additional 296 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 1.2 %

NYSE IP traded up $0.68 during trading hours on Friday, hitting $55.54. 3,254,901 shares of the company's stock were exchanged, compared to its average volume of 5,211,820. The business's 50 day moving average is $53.95 and its 200-day moving average is $48.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The firm has a market capitalization of $19.30 billion, a P/E ratio of 47.47 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $4.70 billion. During the same period last year, the company earned $0.64 earnings per share. The company's quarterly revenue was up 1.6% on a year-over-year basis. As a group, analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. International Paper's payout ratio is 158.12%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial reaffirmed a "buy" rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, BNP Paribas downgraded International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.54.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total transaction of $28,848.00. Following the transaction, the director now directly owns 38,945 shares of the company's stock, valued at $1,872,475.60. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 3,600 shares of company stock valued at $188,592. 0.55% of the stock is currently owned by company insiders.

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.