The Manufacturers Life Insurance Company Makes New Investment in International Paper Company $IP

Key Points

• The Manufacturers Life Insurance Company acquired 1.17 million shares of International Paper in the second quarter, worth approximately $44.5 million and representing about 0.22% of the company. Institutional investors collectively own 81.95% of the stock.
• International Paper reported quarterly EPS of $0.04, beating estimates for a $0.04 loss, but revenue fell 11.3% year over year to $6 billion. The company declared a quarterly dividend of $0.4625 per share, implying a 4.5% yield.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $48.75 versus the reported share price of $41.31. However, two company insiders recently sold shares, while one analyst downgraded the stock to “sell.”

The Manufacturers Life Insurance Company acquired a new position in International Paper Company (NYSE:IP - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,167,393 shares of the basic materials company's stock, valued at approximately $44,478,000. The Manufacturers Life Insurance Company owned about 0.22% of International Paper as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC lifted its stake in International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company's stock worth $34,000 after purchasing an additional 229 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of International Paper by 4.2% during the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock valued at $236,000 after buying an additional 242 shares during the last quarter. Independent Advisor Alliance grew its stake in shares of International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock valued at $305,000 after buying an additional 244 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of International Paper by 3.3% in the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock worth $333,000 after buying an additional 267 shares during the period. Finally, Stephens Inc. AR lifted its stake in shares of International Paper by 1.3% in the 1st quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company's stock valued at $853,000 after acquiring an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Price Performance

Shares of IP stock opened at $41.31 on Thursday. The firm has a market cap of $21.88 billion, a P/E ratio of -6.34 and a beta of 0.94. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The business's 50 day moving average price is $39.51 and its 200-day moving average price is $37.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. The business's revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's dividend payout ratio (DPR) is currently -28.37%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a research report on Tuesday. UBS Group lifted their target price on shares of International Paper from $40.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Royal Bank Of Canada upped their price target on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Seaport Research Partners reissued a "buy" rating and set a $46.00 price target on shares of International Paper in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company raised their price target on shares of International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and an average price target 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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