International Paper (NYSE:IP) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of International Paper (NYSE:IP - Free Report) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,742 shares of the basic materials company's stock after acquiring an additional 21,127 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.12% of International Paper worth $23,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IP. SPC Financial Inc. boosted its stake in International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after buying an additional 200 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after purchasing an additional 204 shares during the period. Inspire Advisors LLC grew its holdings in International Paper by 1.7% during 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 last quarter. MassMutual Private Wealth & Trust FSB raised its position in International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock worth $86,000 after purchasing an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its stake in International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock worth $820,000 after purchasing an additional 212 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. Wells Fargo & Company reissued an "underweight" rating and issued a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial dropped their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, StockNews.com downgraded International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $54.21.

Insider Transactions at International Paper

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 sale, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.35% of the company's stock.

International Paper Stock Down 0.3%

Shares of IP stock traded down $0.17 during mid-day trading on Tuesday, hitting $50.32. 559,294 shares of the stock traded hands, compared to its average volume of 7,965,276. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a market cap of $26.56 billion, a P/E ratio of 32.05, a P/E/G ratio of 0.39 and a beta of 1.03. The stock's fifty day moving average is $48.72 and its two-hundred day moving average is $53.38. International Paper has a 52-week low of $41.00 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $5.90 billion during 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%. International Paper's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. Equities analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's dividend payout ratio is presently 158.12%.

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.