Mackenzie Financial Corp Purchases 27,168 Shares of International Paper (NYSE:IP)

Mackenzie Financial Corp grew its stake in shares of International Paper (NYSE:IP - Free Report) by 87.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,182 shares of the basic materials company's stock after buying an additional 27,168 shares during the period. Mackenzie Financial Corp's holdings in International Paper were worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of International Paper by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock valued at $2,561,651,000 after buying an additional 368,648 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC grew its holdings in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of International Paper by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock valued at $450,586,000 after purchasing an additional 24,816 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Trading Up 0.3%

NYSE IP traded up $0.12 on Tuesday, hitting $47.32. 956,457 shares of the stock were exchanged, compared to its average volume of 7,615,989. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a fifty day moving average price of $47.83 and a two-hundred day moving average price of $52.73. The firm has a market capitalization of $24.98 billion, a P/E ratio of 30.14, a P/E/G ratio of 0.39 and a beta of 1.03. International Paper has a 52-week low of $41.50 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm 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 4.75% and a net margin of 2.99%. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. Research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, May 23rd. International Paper's dividend payout ratio is currently 158.12%.

Analyst Ratings Changes

A number of research firms recently weighed in on IP. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $53.86.

Insider Activity

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company's stock.

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.