International Paper (NYSE:IP) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in International Paper (NYSE:IP - Free Report) by 263.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 114,824 shares of the basic materials company's stock after acquiring an additional 83,203 shares during the quarter. Mackenzie Financial Corp's holdings in International Paper were worth $4,151,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IP. Mizuho Markets Americas LLC acquired a new position in shares of International Paper in the 3rd quarter worth approximately $144,509,000. Acadian Asset Management LLC lifted its holdings in shares of International Paper by 208.0% in the 3rd quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company's stock worth $57,129,000 after acquiring an additional 1,087,933 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company's stock worth $312,553,000 after acquiring an additional 1,011,315 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company's stock worth $105,035,000 after acquiring an additional 777,273 shares during the last quarter. Finally, Atlas FRM LLC lifted its holdings in International Paper by 30.0% during the 3rd quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company's stock worth $92,222,000 after buying an additional 600,000 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 1.7 %

Shares of NYSE IP traded down $0.61 during mid-day trading on Monday, reaching $34.76. The company had a trading volume of 7,287,378 shares, compared to its average volume of 4,818,208. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $36.72 and a two-hundred day simple moving average of $35.84. The stock has a market cap of $12.07 billion, a P/E ratio of 42.39 and a beta of 0.99. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the firm posted $0.87 EPS. International Paper's revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts predict that International Paper will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 8,800 shares of company stock valued at $310,438. Insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a report on Sunday, January 14th. Argus lowered shares of International Paper from a "buy" rating to a "hold" rating in a report on Monday, February 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Citigroup raised shares of International Paper from a "neutral" rating to a "buy" rating and increased their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Truist Financial reissued a "buy" rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $37.13.

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.