Mather Group LLC. Invests $89,000 in International Paper (NYSE:IP)

Mather Group LLC. acquired a new stake in International Paper (NYSE:IP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,461 shares of the basic materials company’s stock, valued at approximately $89,000.

Other institutional investors have also made changes to their positions in the company. Rafferty Asset Management LLC boosted its position in International Paper by 11.2% during the third quarter. Rafferty Asset Management LLC now owns 25,793 shares of the basic materials company’s stock valued at $915,000 after purchasing an additional 2,596 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in International Paper during the third quarter worth $245,000. FMR LLC raised its position in International Paper by 51.5% during the third quarter. FMR LLC now owns 756,389 shares of the basic materials company’s stock worth $26,829,000 after acquiring an additional 257,112 shares in the last quarter. LPL Financial LLC lifted its stake in International Paper by 21.4% in the third quarter. LPL Financial LLC now owns 550,890 shares of the basic materials company’s stock valued at $19,540,000 after acquiring an additional 97,241 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of International Paper in the 3rd quarter valued at about $593,000. Institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now directly owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 3,600 shares of company stock valued at $144,744. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.0 %

Shares of NYSE:IP opened at $46.08 on Friday. The business’s 50 day simple moving average is $40.79 and its 200 day simple moving average is $38.08. International Paper has a 1 year low of $30.23 and a 1 year high of $46.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The company has a market capitalization of $16.00 billion, a P/E ratio of 94.04 and a beta of 1.06.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. On average, research analysts anticipate that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, May 23rd. International Paper’s payout ratio is presently 377.55%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IP. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Truist Financial increased their target price on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.71.

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.