Oddo BHF Asset Management Sas Invests $895,000 in International Paper (NYSE:IP)

Oddo BHF Asset Management Sas bought a new stake in International Paper (NYSE:IP) in the third quarter, HoldingsChannel.com reports. The fund bought 18,323 shares of the basic materials company’s stock, valued at approximately $895,000.

A number of other hedge funds also recently bought and sold shares of IP. Wilmington Savings Fund Society FSB bought a new stake in shares of International Paper during the third quarter valued at approximately $614,000. World Investment Advisors LLC grew its holdings in International Paper by 6.1% during the 3rd quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 529 shares in the last quarter. Bard Financial Services Inc. purchased a new position in International Paper during the 3rd quarter valued at about $305,000. Toronto Dominion Bank raised its holdings in shares of International Paper by 15.0% in the 3rd quarter. Toronto Dominion Bank now owns 114,836 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 14,962 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of International Paper by 13.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,567 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 898 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.2 %

Shares of IP stock opened at $55.54 on Friday. The stock’s fifty day moving average price is $53.95 and its 200 day moving average price is $48.99. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 47.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 3,600 shares of company stock worth $188,592. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada boosted their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Company 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.