B. Metzler seel. Sohn & Co. Holding AG Takes $5.76 Million Position in International Paper (NYSE:IP)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in International Paper (NYSE:IP) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 117,959 shares of the basic materials company’s stock, valued at approximately $5,762,000.

A number of other large investors have also added to or reduced their stakes in IP. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of International Paper by 8.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,392 shares of the basic materials company’s stock worth $7,742,000 after acquiring an additional 14,768 shares during the period. Clearbridge Investments LLC increased its position in shares of International Paper by 36.2% during the 1st quarter. Clearbridge Investments LLC now owns 95,893 shares of the basic materials company’s stock valued at $3,742,000 after purchasing an additional 25,487 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of International Paper by 590.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,031 shares of the basic materials company’s stock worth $1,133,000 after purchasing an additional 24,828 shares during the period. CANADA LIFE ASSURANCE Co grew its position in International Paper by 2.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 273,600 shares of the basic materials company’s stock valued at $10,674,000 after buying an additional 6,959 shares during the period. Finally, Natixis boosted its stake in shares of International Paper by 437.1% during the 1st quarter. Natixis now owns 77,404 shares of the basic materials company’s stock worth $3,020,000 after acquiring an additional 62,992 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.2 %

Shares of NYSE:IP opened at $57.84 on Wednesday. The company has a 50-day moving average price of $50.78 and a 200 day moving average price of $46.96. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $31.76 and a 12 month high of $59.52. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 49.44 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, equities research analysts predict that International Paper will post 1.29 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.20%. International Paper’s payout ratio is currently 158.12%.

Insider Buying and Selling

In related news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This represents a 22.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $944,540 over the last three months. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada upped their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Finally, Truist Financial reissued a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Paper currently has an average 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.