Mercer Global Advisors Inc. ADV Raises Stake in International Paper (NYSE:IP)

Mercer Global Advisors Inc. ADV boosted its holdings in International Paper (NYSE:IP) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 122,648 shares of the basic materials company’s stock after buying an additional 851 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in International Paper were worth $5,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at about $26,000. MCF Advisors LLC lifted its position in International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Crewe Advisors LLC purchased a new position in International Paper in the 1st quarter worth approximately $29,000. Finally, Assetmark Inc. grew its position in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 649 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares in the company, valued at approximately $1,843,383.36. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $927,956 over the last quarter. 0.55% of the stock is owned by company insiders.

International Paper Stock Down 2.5 %

Shares of International Paper stock opened at $48.71 on Friday. The business has a 50-day moving average price of $47.00 and a 200 day moving average price of $42.73. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. The firm has a market cap of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. On average, sell-side analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is presently 377.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IP shares. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Truist Financial boosted their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Company Profile

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.