Lombard Odier Asset Management Switzerland SA Acquires 14,000 Shares of International Paper Company $IP

Lombard Odier Asset Management Switzerland SA lifted its holdings in International Paper Company (NYSE:IP) by 13.2% in the 1st quarter, Holdings Channel reports. The firm owned 120,056 shares of the basic materials company’s stock after acquiring an additional 14,000 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in International Paper were worth $4,286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. McIlrath & Eck LLC increased its holdings in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares in the last quarter. MV Capital Management Inc. purchased a new position in International Paper in the 4th quarter worth about $25,000. Ascentis Independent Advisors bought a new position in International Paper during the 1st quarter valued at about $28,000. DV Equities LLC bought a new position in International Paper during the 4th quarter valued at about $29,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 344 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Scott Tozier acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the transaction, the director directly owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of IP opened at $42.21 on Monday. The business has a 50-day simple moving average of $35.68 and a two-hundred day simple moving average of $37.97. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. International Paper Company has a 52 week low of $29.26 and a 52 week high of $56.13. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of -6.64 and a beta of 0.94.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. On average, analysts expect that International Paper Company will post 1.39 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, August 14th. International Paper’s dividend payout ratio is presently -29.09%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price objective for the company. Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. UBS Group cut their target price on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Seaport Research Partners upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Friday, May 1st. Finally, Truist Financial increased their price target on International Paper from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average price target of $44.31.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.