Man Group plc Increases Position in International Paper (NYSE:IP)

Man Group plc grew its stake in International Paper (NYSE:IP) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,069 shares of the basic materials company’s stock after acquiring an additional 22,925 shares during the quarter. Man Group plc’s holdings in International Paper were worth $5,063,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after acquiring an additional 7,424 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares during the period. Merit Financial Group LLC purchased a new position in shares of International Paper in the 4th quarter valued at $372,000. Strategic Financial Concepts LLC purchased a new position in shares of International Paper in the 4th quarter valued at $788,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of International Paper by 26.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,106 shares of the basic materials company’s stock valued at $2,232,000 after acquiring an additional 8,669 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com downgraded International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Wells Fargo & Company reissued an “underweight” rating and issued a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Truist Financial lowered their price objective on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, two have issued 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 presently has a consensus rating of “Hold” and an average target price of $54.21.

International Paper Stock Performance

Shares of IP opened at $50.03 on Wednesday. The stock has a 50-day moving average of $48.71 and a two-hundred day moving average of $53.36. International Paper has a one year low of $41.00 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market cap of $26.41 billion, a P/E ratio of 31.87, a P/E/G ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the firm posted $0.17 EPS. The business’s revenue was up 27.8% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.70%. International Paper’s dividend payout ratio is currently 158.12%.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.35% of the stock is currently owned by 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.