Massachusetts Financial Services Co. MA Has $177.93 Million Holdings in International Paper Company $IP

Massachusetts Financial Services Co. MA decreased its stake in shares of International Paper Company (NYSE:IP) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,834,791 shares of the basic materials company’s stock after selling 82,427 shares during the period. Massachusetts Financial Services Co. MA’s holdings in International Paper were worth $177,934,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in International Paper by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock worth $2,991,462,000 after purchasing an additional 1,255,650 shares during the period. State Street Corp lifted its holdings in shares of International Paper by 3.2% in the second quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock valued at $1,376,175,000 after purchasing an additional 902,741 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of International Paper by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares during the period. Geode Capital Management LLC boosted its position in shares of International Paper by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock worth $622,133,000 after buying an additional 294,296 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of International Paper by 1.5% during the second quarter. Invesco Ltd. now owns 8,160,930 shares of the basic materials company’s stock worth $382,176,000 after buying an additional 120,802 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 0.5%

NYSE IP opened at $43.43 on Tuesday. International Paper Company has a 12 month low of $35.56 and a 12 month high of $60.15. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $39.42 and a 200-day moving average of $44.59. The company has a market cap of $22.93 billion, a PE ratio of -16.64, a PEG ratio of 0.49 and a beta of 1.10.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The business’s revenue was up 56.4% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on IP. Truist Financial boosted their target price on International Paper from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Seaport Res Ptn downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Citigroup reduced their target price on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 3rd. BNP Paribas Exane raised shares of International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, International Paper presently has a consensus rating of “Hold” and a consensus price target of $48.65.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total value of $693,480.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by corporate insiders.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.