KBC Group NV Has $4.80 Million Position in International Paper Company $IP

KBC Group NV grew its stake in International Paper Company (NYSE:IP) by 11.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,496 shares of the basic materials company’s stock after acquiring an additional 10,204 shares during the quarter. KBC Group NV’s holdings in International Paper were worth $4,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC increased its stake in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of International Paper in the 2nd quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new stake in International Paper during the 1st quarter worth $34,000. Finally, Quintet Private Bank Europe S.A. bought a new position in International Paper during the second quarter worth about $37,000. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 1.5%

Shares of NYSE:IP opened at $37.34 on Friday. The company’s 50-day moving average price is $44.48 and its two-hundred day moving average price is $47.09. International Paper Company has a one year low of $35.79 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The stock has a market capitalization of $19.72 billion, a PE ratio of -373.40, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. International Paper’s revenue was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. On average, equities analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.0%. International Paper’s dividend payout ratio (DPR) is -70.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IP shares. Royal Bank Of Canada dropped their price target on International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Stifel Nicolaus set a $57.80 price target on shares of International Paper and gave the company a “buy” rating in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of International Paper in a research report on Tuesday. BNP Paribas Exane dropped their price objective on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a report on Wednesday, October 8th. Finally, Truist Financial reduced their target price on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average target price of $50.92.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

International Paper 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.