International Paper Company $IP Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of International Paper Company (NYSE:IP) by 69.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,692 shares of the basic materials company’s stock after acquiring an additional 50,742 shares during the period. CIBC Asset Management Inc’s holdings in International Paper were worth $4,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Marble Wealth LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $415,000. Natixis Advisors LLC grew its position in shares of International Paper by 37.1% during the fourth quarter. Natixis Advisors LLC now owns 520,932 shares of the basic materials company’s stock worth $20,520,000 after acquiring an additional 140,874 shares during the last quarter. New Mexico Educational Retirement Board grew its position in shares of International Paper by 2.1% during the fourth quarter. New Mexico Educational Retirement Board now owns 24,302 shares of the basic materials company’s stock worth $957,000 after acquiring an additional 500 shares during the last quarter. Florida Financial Advisors LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $217,000. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of International Paper by 6.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 179,451 shares of the basic materials company’s stock worth $7,069,000 after acquiring an additional 11,315 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IP has been the topic of a number of analyst reports. Truist Financial lowered their price objective on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $39.00 in a research report on Monday, May 4th. BNP Paribas Exane lowered their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of International Paper in a research report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price objective on the stock. Finally, Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

International Paper Price Performance

International Paper stock opened at $33.66 on Friday. International Paper Company has a one year low of $29.26 and a one year high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The business has a fifty day moving average of $33.76 and a two-hundred day moving average of $38.37. The company has a market cap of $17.82 billion, a P/E ratio of -5.29 and a beta of 0.96.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business posted $0.17 EPS. International Paper’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts predict that International Paper Company will post 1.38 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, June 12th. Shareholders of record on Friday, May 22nd will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a yield of 5.5%. International Paper’s dividend payout ratio (DPR) is -29.09%.

Insider Buying and Selling at International Paper

In other news, Director Scott Tozier purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $31.30 per share, with a total value of $313,000.00. Following the purchase, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This represents a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anders Gustafsson purchased 13,217 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $37.83 per share, with a total value of $499,999.11. Following the purchase, the director directly owned 26,092 shares in the company, valued at approximately $987,060.36. The trade was a 102.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 36,092 shares of company stock valued at $1,313,064 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

International Paper Profile

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.