E. Ohman J or Asset Management AB Has $867,000 Position in International Paper (NYSE:IP)

E. Ohman J or Asset Management AB increased its position in International Paper (NYSE:IP) by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,100 shares of the basic materials company’s stock after buying an additional 2,400 shares during the period. E. Ohman J or Asset Management AB’s holdings in International Paper were worth $867,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Brooklyn Investment Group acquired a new position in International Paper in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in International Paper in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in International Paper in the third quarter worth approximately $28,000. Versant Capital Management Inc increased its holdings in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the last quarter. Finally, City State Bank increased its holdings in International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

International Paper Stock Down 0.1 %

IP opened at $53.85 on Thursday. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $18.71 billion, a price-to-earnings ratio of 34.30 and a beta of 1.02. The business has a 50 day moving average of $55.87 and a 200-day moving average of $51.84.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, sell-side analysts anticipate that International Paper will post 3.01 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.44%. International Paper’s dividend payout ratio (DPR) is currently 117.84%.

About International Paper

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.