International Paper Company $IP Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB raised its position in shares of International Paper Company (NYSE:IP) by 33.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 583,647 shares of the basic materials company’s stock after purchasing an additional 146,693 shares during the quarter. Nordea Investment Management AB owned 0.11% of International Paper worth $26,643,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in International Paper by 2.0% in the second quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock valued at $2,991,462,000 after buying an additional 1,255,650 shares during the last quarter. State Street Corp lifted its stake in International Paper by 3.2% during the 2nd quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock valued at $1,376,175,000 after acquiring an additional 902,741 shares during the period. Bank of New York Mellon Corp boosted its holdings in International Paper by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after purchasing an additional 1,592,411 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Paper by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock valued at $622,133,000 after buying an additional 294,296 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of International Paper by 1.5% in the second quarter. Invesco Ltd. now owns 8,160,930 shares of the basic materials company’s stock worth $382,176,000 after buying an additional 120,802 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by insiders.

International Paper Stock Performance

IP opened at $42.84 on Thursday. The firm’s fifty day simple moving average is $39.07 and its two-hundred day simple moving average is $44.75. International Paper Company has a 52-week low of $35.56 and a 52-week high of $60.15. The company has a market cap of $22.62 billion, a price-to-earnings ratio of -16.41, a PEG ratio of 0.48 and a beta of 1.10. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IP has been the subject of several recent research reports. Citigroup reduced their price target on International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday. Argus cut their target price on shares of International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Royal Bank Of Canada set a $55.00 target price on shares of International Paper and gave the company an “outperform” rating in a research note on Thursday, December 18th. Finally, Truist Financial increased their price target on shares of International Paper from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, International Paper currently has an average rating of “Hold” and an average target price of $48.65.

International Paper Company 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.