International Paper (NYSE:IP) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in shares of International Paper (NYSE:IP) by 39.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,175 shares of the basic materials company’s stock after selling 34,667 shares during the period. Manning & Napier Advisors LLC’s holdings in International Paper were worth $2,808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after acquiring an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after purchasing an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 2.2 %

Shares of International Paper stock opened at $57.83 on Thursday. The firm has a market cap of $20.09 billion, a PE ratio of 49.43 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The business’s fifty day moving average is $56.19 and its two-hundred day moving average is $51.46.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Analysts anticipate that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IP. Royal Bank of Canada raised their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Finally, Truist Financial increased their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.99.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.

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.