Mercer Global Advisors Inc. ADV Boosts Holdings in International Paper (NYSE:IP)

Mercer Global Advisors Inc. ADV grew its position in shares of International Paper (NYSE:IP) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,648 shares of the basic materials company’s stock after buying an additional 851 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in International Paper were worth $5,292,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of IP. Innealta Capital LLC acquired a new stake in shares of International Paper in the 2nd quarter valued at approximately $26,000. MCF Advisors LLC lifted 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 valued at $27,000 after acquiring an additional 624 shares during the period. Jones Financial Companies Lllp boosted its position in shares of International Paper by 208.3% during the 4th 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 in the last quarter. Crewe Advisors LLC acquired a new position in shares of International Paper during the 1st quarter worth $29,000. Finally, Assetmark Inc. increased its holdings in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 2.5 %

IP opened at $48.71 on Friday. The firm has a market cap of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04. The business’s fifty day simple moving average is $47.00 and its 200 day simple moving average is $42.73. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

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

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.80%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now directly owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the sale, the director now directly owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $927,956 in the last quarter. 0.55% of the stock is currently owned by company 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.