MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 7,834 Shares of International Paper (NYSE:IP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in International Paper (NYSE:IP) by 4.7% during the first quarter, Holdings Channel reports. The firm owned 158,030 shares of the basic materials company’s stock after selling 7,834 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in International Paper were worth $6,166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of International Paper during the 3rd quarter valued at approximately $245,000. FMR LLC increased its holdings in shares of International Paper by 51.5% during the third quarter. FMR LLC now owns 756,389 shares of the basic materials company’s stock worth $26,829,000 after buying an additional 257,112 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of International Paper in the 3rd quarter valued at $457,000. Natixis Advisors L.P. grew its position in International Paper by 16.6% during the 3rd quarter. Natixis Advisors L.P. now owns 177,567 shares of the basic materials company’s stock worth $6,298,000 after acquiring an additional 25,225 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in International Paper by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 156,500 shares of the basic materials company’s stock worth $5,551,000 after purchasing an additional 570 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Up 0.4 %

NYSE IP traded up $0.16 on Tuesday, reaching $43.50. The company had a trading volume of 11,114,794 shares, compared to its average volume of 5,833,632. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average is $41.93 and its 200 day moving average is $38.44. International Paper has a 52-week low of $30.78 and a 52-week high of $47.40. The stock has a market capitalization of $15.11 billion, a P/E ratio of 88.73 and a beta of 1.06.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that International Paper will post 1.86 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 24th were given a $0.4625 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.25%. International Paper’s dividend payout ratio is currently 377.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IP shares. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Company increased their price target on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and increased their target price for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Truist Financial reiterated a “buy” rating and set a $52.00 price objective on shares of International Paper in a research report on Thursday, June 27th. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the transaction, the director now directly owns 43,402 shares in the company, valued at $1,957,864.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 3,600 shares of company stock worth $147,054 in the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper 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.