International Paper (NYSE:IP) Stake Raised by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in International Paper (NYSE:IP) by 1,896.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,215 shares of the basic materials company’s stock after acquiring an additional 199,687 shares during the quarter. Wellington Management Group LLP owned about 0.06% of International Paper worth $7,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in International Paper during the 3rd quarter worth about $245,000. FMR LLC raised its holdings in International Paper by 51.5% during the 3rd quarter. FMR LLC now owns 756,389 shares of the basic materials company’s stock worth $26,829,000 after buying an additional 257,112 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in International Paper during the 3rd quarter worth about $457,000. Natixis Advisors L.P. raised its holdings in International Paper by 16.6% during the 3rd quarter. Natixis Advisors L.P. now owns 177,567 shares of the basic materials company’s stock worth $6,298,000 after buying an additional 25,225 shares during the period. Finally, Mutual Advisors LLC increased its holdings in shares of International Paper by 6.1% in the 3rd quarter. Mutual Advisors LLC now owns 20,049 shares of the basic materials company’s stock valued at $711,000 after purchasing an additional 1,153 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Down 0.2 %

Shares of International Paper stock opened at $43.17 on Friday. The stock has a market capitalization of $14.99 billion, a P/E ratio of 88.10 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $41.76 and a two-hundred day moving average price of $38.37. International Paper has a 12-month low of $30.78 and a 12-month high of $47.40.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.85 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were given a $0.4625 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.29%. International Paper’s dividend payout ratio is 377.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IP shares. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Truist Financial reiterated a “buy” rating and issued a $52.00 target price on shares of International Paper in a report on Thursday. Finally, Wells Fargo & Company upped their target price on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 3,600 shares of company stock valued at $144,744. 0.55% of the stock is owned by company insiders.

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.