Mutual of America Capital Management LLC Reduces Position in International Paper (NYSE:IP)

Mutual of America Capital Management LLC reduced its holdings in International Paper (NYSE:IP) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,771 shares of the basic materials company’s stock after selling 1,030 shares during the period. Mutual of America Capital Management LLC’s holdings in International Paper were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in International Paper in the 2nd quarter valued at about $119,012,000. Samlyn Capital LLC acquired a new position in International Paper in the second quarter valued at about $88,966,000. Finally, Ceredex Value Advisors LLC purchased a new position in International Paper during the third quarter worth about $84,526,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,440 shares of company stock valued at $944,540. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Truist Financial reiterated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Trading Up 0.2 %

Shares of NYSE:IP opened at $59.32 on Monday. International Paper has a 52 week low of $32.51 and a 52 week high of $60.22. The company’s 50 day moving average is $51.45 and its two-hundred day moving average is $47.40. The company has a market cap of $20.61 billion, a PE ratio of 50.70 and a beta of 1.02. 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 (NYSE:IP) last posted 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 analysts’ expectations 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 period last year, the firm earned $0.64 earnings per share. Equities analysts predict that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business 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 annualized dividend and a yield of 3.12%. International Paper’s dividend payout ratio is presently 158.12%.

International Paper 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.