The Manufacturers Life Insurance Company raised its holdings in International Paper Company (NYSE:IP – Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 778,301 shares of the basic materials company’s stock after buying an additional 66,666 shares during the period. The Manufacturers Life Insurance Company’s holdings in International Paper were worth $27,785,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC raised its holdings in shares of International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new position in International Paper in the 4th quarter valued at about $25,000. Ascentis Independent Advisors acquired a new position in International Paper during the 1st quarter valued at about $28,000. DV Equities LLC acquired a new position in International Paper during the 4th quarter valued at about $29,000. Finally, Sound Income Strategies LLC increased its holdings in International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares in the last quarter. 81.95% of the stock is owned by institutional investors.
International Paper Price Performance
Shares of NYSE:IP opened at $41.03 on Friday. The company’s 50-day moving average is $36.88 and its 200 day moving average is $38.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.10. The company has a market capitalization of $21.73 billion, a P/E ratio of -6.29 and a beta of 0.94. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $52.28.
International Paper Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio is currently -29.09%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. UBS Group increased their price objective on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday. Bank of America cut International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 14th. Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and increased their price target for the company from $51.00 to $61.00 in a research report on Tuesday. Finally, Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.
Check Out Our Latest Research Report on IP
More International Paper News
Here are the key news stories impacting International Paper this week:
- Positive Sentiment: Citigroup raised its price target to $48 and assigned a Buy rating, implying approximately 17% potential upside based on the referenced price. The call suggests confidence in containerboard pricing and International Paper’s longer-term recovery prospects. Benzinga analyst price target report
- Positive Sentiment: Second-quarter adjusted EPS was $0.04, beating the consensus estimate of a $0.04 loss. Recent insider activity also showed five open-market purchases and no sales over the past six months, including purchases by the CEO and other executives. These factors may provide some support for investor confidence. International Paper second-quarter results
- Neutral Sentiment: JPMorgan upgraded International Paper’s stock rating, while other recent analyst targets have been mixed. Institutional positioning was also divided, with some large investors adding shares and others making substantial reductions. JPMorgan International Paper rating update
- Negative Sentiment: Revenue totaled $6.00 billion, below roughly $6.2 billion in expectations and down 11.3% year over year. The company reported a $12 million loss from continuing operations, negative free cash flow of $7 million, and reduced profitability expectations. Management projected full-year adjusted EBITDA of $3.20 billion to $3.40 billion and warned that a temporary Pine Hill, Alabama, mill closure will reduce third-quarter EBITDA by about $85 million. Higher maintenance, input and freight costs are adding further pressure. Zacks International Paper earnings analysis
- Negative Sentiment: Analysts cut estimates for second- and third-quarter EPS, reinforcing concerns that maintenance outages, macroeconomic headwinds and weaker profitability could outweigh the quarterly earnings beat. International Paper EPS forecast revision
International Paper Profile
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.
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