Mizuho Markets Americas LLC Has $87.59 Million Holdings in International Paper (NYSE:IP)

Mizuho Markets Americas LLC trimmed its holdings in International Paper (NYSE:IP) by 0.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,792,950 shares of the basic materials company’s stock after selling 8,600 shares during the period. International Paper comprises 1.8% of Mizuho Markets Americas LLC’s holdings, making the stock its 15th biggest position. Mizuho Markets Americas LLC’s holdings in International Paper were worth $87,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Envestnet Portfolio Solutions Inc. increased its stake in shares of International Paper by 47.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,046 shares of the basic materials company’s stock worth $470,000 after purchasing an additional 3,854 shares during the period. Empowered Funds LLC acquired a new position in International Paper during the 1st quarter worth approximately $668,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in International Paper by 25.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,316 shares of the basic materials company’s stock valued at $1,261,000 after buying an additional 6,611 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of International Paper by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 458,015 shares of the basic materials company’s stock worth $16,516,000 after buying an additional 16,813 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of International Paper by 19.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 400,266 shares of the basic materials company’s stock valued at $15,618,000 after acquiring an additional 65,630 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IP. 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 report on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

Insider Activity

In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock valued at $910,826 in the last ninety days. 0.55% of the stock is currently owned by insiders.

International Paper Stock Up 2.0 %

Shares of NYSE:IP opened at $57.58 on Friday. The business’s 50 day moving average is $50.36 and its 200 day moving average is $46.50. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, sell-side analysts forecast that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.21%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

About International Paper

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.