Nordea Investment Management AB Purchases 124,973 Shares of International Paper Company $IP

Nordea Investment Management AB grew its position in shares of International Paper Company (NYSE:IP) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,620 shares of the basic materials company’s stock after acquiring an additional 124,973 shares during the quarter. Nordea Investment Management AB’s holdings in International Paper were worth $27,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IP. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of International Paper in the 2nd quarter worth $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the 2nd quarter valued at $35,000. Kelleher Financial Advisors bought a new stake in International Paper during the 3rd quarter valued at $36,000. CYBER HORNET ETFs LLC acquired a new position in International Paper during the second quarter worth $43,000. Finally, City Holding Co. acquired a new position in International Paper during the third quarter worth $46,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IP shares. Wells Fargo & Company reduced their price objective on shares of International Paper from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. Stifel Nicolaus lowered their target price on shares of International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a report on Monday, February 9th. Royal Bank Of Canada dropped their price target on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Finally, Argus decreased their price objective on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.06.

Insider Activity at International Paper

In related news, CEO Andrew K. Silvernail bought 50,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the transaction, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anders Gustafsson acquired 13,217 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director directly owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. The trade was a 102.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 76,092 shares of company stock worth $2,999,064 over the last three months. 0.55% of the stock is currently owned by insiders.

International Paper Price Performance

IP opened at $36.22 on Wednesday. International Paper Company has a 1 year low of $33.57 and a 1 year high of $56.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of -5.40 and a beta of 1.09. The firm’s fifty day moving average price is $42.35 and its two-hundred day moving average price is $42.16.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the company earned ($0.02) EPS. The business’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

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.