KBC Group NV Buys 9,693 Shares of International Paper (NYSE:IP)

KBC Group NV increased its stake in International Paper (NYSE:IP) by 23.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,072 shares of the basic materials company’s stock after buying an additional 9,693 shares during the quarter. KBC Group NV’s holdings in International Paper were worth $2,495,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IP. Bank of New York Mellon Corp boosted its position in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after buying an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after acquiring an additional 5,492,035 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in International Paper during the 2nd quarter valued at $119,012,000. Diamond Hill Capital Management Inc. grew its position in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Finally, Samlyn Capital LLC bought a new position in shares of International Paper in the second quarter worth about $88,966,000. 81.95% of the stock is currently owned by institutional investors.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. This trade represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $944,540 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.2 %

NYSE:IP opened at $57.70 on Tuesday. The company’s 50-day simple moving average is $50.56 and its 200-day simple moving average is $46.81. 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 fifty-two week low of $31.76 and a fifty-two week high of $59.52. The stock has a market capitalization of $20.05 billion, a P/E ratio of 49.32 and a beta of 1.02.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that International Paper will post 1.29 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 Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IP. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

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.