Northwestern Mutual Wealth Management Co. Boosts Holdings in International Paper (NYSE:IP)

Northwestern Mutual Wealth Management Co. boosted its position in shares of International Paper (NYSE:IP) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,426 shares of the basic materials company’s stock after purchasing an additional 1,490 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in International Paper were worth $1,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Innealta Capital LLC bought a new stake in shares of International Paper in the second quarter worth $26,000. MCF Advisors LLC boosted its holdings in International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the period. Crewe Advisors LLC bought a new position in shares of International Paper in the 1st quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of International Paper in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $48.53 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The company has a market capitalization of $16.86 billion, a PE ratio of 99.04 and a beta of 1.04. The stock has a fifty day moving average of $47.54 and a 200-day moving average of $43.59. International Paper has a one year low of $31.76 and a one year high of $50.68.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. As a group, equities analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.81%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Ratings Changes

A number of brokerages have commented on IP. Truist Financial lifted their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares of the company’s stock, valued at $1,843,383.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now owns 42,202 shares in the company, valued at approximately $1,843,383.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,440 shares of company stock worth $931,502. 0.55% of the stock is owned by corporate insiders.

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.