Lombard Odier Asset Management Switzerland SA Acquires 14,000 Shares of International Paper Company $IP

Lombard Odier Asset Management Switzerland SA grew its holdings in shares of International Paper Company (NYSE:IP) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,056 shares of the basic materials company’s stock after acquiring an additional 14,000 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in International Paper were worth $4,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. McIlrath & Eck LLC lifted its position in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. purchased a new stake in International Paper during the fourth quarter valued at about $25,000. Ascentis Independent Advisors purchased a new position in International Paper in the 1st quarter worth approximately $28,000. DV Equities LLC purchased a new position in shares of International Paper in the fourth quarter worth $29,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In related news, Director Scott Tozier purchased 10,000 shares of International Paper stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the acquisition, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

International Paper Price Performance

Shares of NYSE IP opened at $42.21 on Monday. The company has a 50 day simple moving average of $35.68 and a two-hundred day simple moving average of $37.97. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $56.13. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of -6.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts expect that International Paper Company will post 1.39 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio is currently -29.09%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IP shares. Deutsche Bank Aktiengesellschaft initiated coverage on International Paper in a research note on Wednesday, April 1st. They set a “hold” rating and a $38.00 target price on the stock. Bank of America lowered International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their target price on International Paper from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Wells Fargo & Company upped their price target on International Paper from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Citigroup increased their price objective on International Paper from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $44.31.

About International Paper

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.