International Paper (NYSE:IP) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in International Paper (NYSE:IP) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 691,547 shares of the basic materials company’s stock after purchasing an additional 34,872 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.20% of International Paper worth $29,840,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IP. Jones Financial Companies Lllp grew its holdings in International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares in the last quarter. Innealta Capital LLC acquired a new position in International Paper during the 2nd quarter worth $26,000. MCF Advisors LLC increased its holdings in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Crewe Advisors LLC bought a new stake in shares of International Paper during the first quarter valued at about $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Paper during the fourth quarter valued at about $37,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The sale was disclosed in a document filed with the SEC, which is available 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 Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,840 shares of company stock valued at $902,294. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Truist Financial boosted their target price on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company upped their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, six have given 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 a consensus rating of “Moderate Buy” and an average price target of $50.21.

International Paper Price Performance

Shares of NYSE:IP opened at $48.85 on Tuesday. The company has a market capitalization of $16.97 billion, a PE ratio of 99.69 and a beta of 1.04. 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 stock has a fifty day moving average of $47.38 and a 200-day moving average of $43.31. International Paper has a one year low of $31.76 and a one year high of $50.68.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate 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 was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, equities analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.79%. International Paper’s dividend payout ratio is currently 377.55%.

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.