The Manufacturers Life Insurance Company Has $27.79 Million Holdings in International Paper Company $IP

Key Points

• The Manufacturers Life Insurance Company increased its International Paper stake by 9.4% in the first quarter, adding 66,666 shares to own 778,301 shares worth approximately $27.8 million. Institutional investors collectively hold 81.95% of the company.
• International Paper reported quarterly EPS of $0.04, beating the expected $0.04 loss, but revenue fell 11.3% year over year to $6.0 billion and the company posted a $12 million loss from continuing operations. A temporary mill closure and higher costs are expected to pressure third-quarter results.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average target price of $48.75; Citigroup and Truist recently raised their targets. The company also declared a quarterly dividend of $0.4625 per share, representing a 4.5% annualized yield.

The Manufacturers Life Insurance Company increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 9.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 778,301 shares of the basic materials company's stock after buying an additional 66,666 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of International Paper worth $27,785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DNB Asset Management AS raised its position in shares of International Paper by 144.2% in the 4th quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock worth $10,199,000 after acquiring an additional 152,907 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of International Paper by 29.6% in the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock valued at $4,921,000 after purchasing an additional 31,518 shares during the period. Alpha Omega Wealth Management LLC bought a new stake in shares of International Paper during the 4th quarter valued at about $1,539,000. AE Wealth Management LLC boosted its position in shares of International Paper by 12.8% during the 4th quarter. AE Wealth Management LLC now owns 374,851 shares of the basic materials company's stock valued at $14,765,000 after purchasing an additional 42,541 shares in the last quarter. Finally, Norges Bank acquired a new stake in International Paper during the fourth quarter worth approximately $250,093,000. Institutional investors and hedge funds own 81.95% of the company's stock.

More International Paper News

Here are the key news stories impacting International Paper this week:

• Positive Sentiment: Citigroup raised its price target to $48 and assigned a Buy rating, implying approximately 17% potential upside based on the referenced price. The call suggests confidence in containerboard pricing and International Paper’s longer-term recovery prospects. Benzinga analyst price target report
• Positive Sentiment: Second-quarter adjusted EPS was $0.04, beating the consensus estimate of a $0.04 loss. Recent insider activity also showed five open-market purchases and no sales over the past six months, including purchases by the CEO and other executives. These factors may provide some support for investor confidence. International Paper second-quarter results
• Neutral Sentiment: JPMorgan upgraded International Paper’s stock rating, while other recent analyst targets have been mixed. Institutional positioning was also divided, with some large investors adding shares and others making substantial reductions. JPMorgan International Paper rating update
• Negative Sentiment: Revenue totaled $6.00 billion, below roughly $6.2 billion in expectations and down 11.3% year over year. The company reported a $12 million loss from continuing operations, negative free cash flow of $7 million, and reduced profitability expectations. Management projected full-year adjusted EBITDA of $3.20 billion to $3.40 billion and warned that a temporary Pine Hill, Alabama, mill closure will reduce third-quarter EBITDA by about $85 million. Higher maintenance, input and freight costs are adding further pressure. Zacks International Paper earnings analysis
• Negative Sentiment: Analysts cut estimates for second- and third-quarter EPS, reinforcing concerns that maintenance outages, macroeconomic headwinds and weaker profitability could outweigh the quarterly earnings beat. International Paper EPS forecast revision

International Paper Stock Performance

Shares of International Paper stock opened at $41.03 on Friday. International Paper Company has a one year low of $29.26 and a one year high of $52.28. The firm has a market capitalization of $21.73 billion, a price-to-earnings ratio of -6.29 and a beta of 0.94. The business has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $38.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.94.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. On average, research analysts anticipate that International Paper Company will post 1.4 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.5%. International Paper's payout ratio is currently -29.09%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IP shares. Seaport Research Partners upgraded International Paper from a "neutral" rating to a "buy" rating and set a $39.00 target price for the company in a report on Friday, May 1st. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Bank of America downgraded shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. Citigroup lifted their price objective on shares of International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Friday. Finally, Truist Financial reiterated a "buy" rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a research report on Friday. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.75.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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