MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Position in International Paper Company (NYSE:IP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in shares of International Paper Company (NYSE:IP - Free Report) by 93.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,527 shares of the basic materials company's stock after selling 20,668 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in International Paper were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IP. SPC Financial Inc. grew its holdings in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock valued at $759,000 after acquiring an additional 200 shares in the last quarter. Inspire Advisors LLC grew its stake in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock valued at $665,000 after purchasing an additional 204 shares during the period. Picton Mahoney Asset Management grew 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 purchasing an additional 215 shares during the period. Summit Financial LLC increased its position in shares of International Paper by 4.3% during the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock valued at $293,000 after purchasing an additional 224 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in shares of International Paper by 6.0% during the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock worth $223,000 after purchasing an additional 235 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

International Paper Trading Up 0.3%

International Paper stock traded up $0.14 during mid-day trading on Thursday, hitting $46.07. The company's stock had a trading volume of 3,557,210 shares, compared to its average volume of 3,453,716. The business has a 50 day moving average price of $47.07 and a 200-day moving average price of $51.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 12 month low of $41.50 and a 12 month high of $60.36. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate 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 net margin of 1.99% and a return on equity of 4.05%. The company's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. As a group, analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on IP. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $54.54.

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.