Mn Services Vermogensbeheer B.V. Reduces Holdings in International Paper Company (NYSE:IP)

Mn Services Vermogensbeheer B.V. decreased its position in shares of International Paper Company (NYSE:IP - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,600 shares of the basic materials company's stock after selling 9,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in International Paper were worth $6,381,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IP. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in International Paper in the 4th quarter valued at approximately $26,000. Picton Mahoney Asset Management lifted its stake in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after buying an additional 295 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in International Paper in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price on the stock. Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Wall Street Zen downgraded shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, UBS Group assumed coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Paper currently has a consensus rating of "Hold" and a consensus price target of $54.54.

International Paper Trading Up 0.3%

Shares of IP stock traded up $0.14 during trading hours on Wednesday, hitting $46.07. 3,557,210 shares of the company were exchanged, compared to its average volume of 3,453,716. The firm has a market cap of $24.32 billion, a PE ratio of 39.38, a PEG ratio of 0.42 and a beta of 1.04. International Paper Company has a 1 year low of $41.50 and a 1 year high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $47.14 and a 200 day moving average of $51.88.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The business's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. Analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.35% of the company's stock.

About International Paper

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.