M&G PLC Makes New Investment in International Paper Company $IP

M&G PLC purchased a new stake in International Paper Company (NYSE:IP) in the 3rd quarter, HoldingsChannel reports. The firm purchased 1,161,002 shares of the basic materials company’s stock, valued at approximately $38,732,000.

Other institutional investors have also modified their holdings of the company. Mitchell & Pahl Private Wealth LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $2,122,000. Man Group plc purchased a new stake in International Paper in the 2nd quarter valued at about $24,640,000. The Manufacturers Life Insurance Company raised its stake in shares of International Paper by 50.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock valued at $44,478,000 after acquiring an additional 389,092 shares during the period. D.A. Davidson & CO. acquired a new position in shares of International Paper in the 3rd quarter worth approximately $4,469,000. Finally, Amundi acquired a new position in shares of International Paper in the 2nd quarter worth approximately $82,666,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America reaffirmed a “buy” rating on shares of International Paper in a research report on Thursday, October 29th. UBS Group decreased their price target on International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price objective on International Paper from $62.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Finally, Truist Financial reiterated a “buy” rating and issued a $39.00 price objective (down from $41.00) on shares of International Paper in a report on Thursday, October 29th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.44.

International Paper Trading Up 2.5%

Shares of NYSE:IP opened at $35.41 on Tuesday. The company has a market cap of $18.75 billion, a PE ratio of -5.40, a P/E/G ratio of 5.27 and a beta of 0.97. The company’s 50 day moving average is $34.31 and its two-hundred day moving average is $37.21. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the company posted ($0.43) earnings per share. International Paper’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that International Paper Company will post 1.14 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio is currently -28.20%.

About International Paper

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.