MAI Capital Management Reduces Stock Position in International Paper (NYSE:IP)

MAI Capital Management lessened its holdings in International Paper (NYSE:IP) by 15.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,938 shares of the basic materials company’s stock after selling 4,989 shares during the quarter. MAI Capital Management’s holdings in International Paper were worth $1,365,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Clearbridge Investments LLC boosted its stake in International Paper by 36.2% in the first quarter. Clearbridge Investments LLC now owns 95,893 shares of the basic materials company’s stock valued at $3,742,000 after acquiring an additional 25,487 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of International Paper by 590.7% during the first quarter. UniSuper Management Pty Ltd now owns 29,031 shares of the basic materials company’s stock worth $1,133,000 after buying an additional 24,828 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of International Paper by 2.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 273,600 shares of the basic materials company’s stock worth $10,674,000 after buying an additional 6,959 shares during the period. Natixis boosted its stake in shares of International Paper by 437.1% during the first quarter. Natixis now owns 77,404 shares of the basic materials company’s stock worth $3,020,000 after buying an additional 62,992 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in shares of International Paper during the first quarter worth about $29,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial restated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated 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 owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were 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 $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $944,540 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Stock Up 1.7 %

Shares of IP opened at $58.84 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm has a market cap of $20.44 billion, a PE ratio of 50.29 and a beta of 1.02. The company’s fifty day moving average is $51.01 and its two-hundred day moving average is $47.05. International Paper has a fifty-two week low of $32.21 and a fifty-two week high of $60.22.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. Analysts forecast that International Paper will post 1.29 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

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.