Northwestern Mutual Wealth Management Co. Makes New Investment in International Paper Company $IP

Northwestern Mutual Wealth Management Co. acquired a new stake in International Paper Company (NYSE:IP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,976 shares of the basic materials company’s stock, valued at approximately $494,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in International Paper during the first quarter valued at $249,000. Intech Investment Management LLC boosted its holdings in International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC increased its stake in International Paper by 20.8% during the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after buying an additional 2,981 shares in the last quarter. Jump Financial LLC raised its holdings in shares of International Paper by 280.9% during the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after acquiring an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of International Paper by 8.0% in the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after acquiring an additional 2,493 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This trade represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

International Paper Price Performance

NYSE:IP opened at $41.31 on Thursday. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The stock’s fifty day moving average is $39.51 and its two-hundred day moving average is $37.85. The company has a market capitalization of $21.88 billion, a P/E ratio of -6.34 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the company earned $0.20 EPS. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Equities analysts expect that International Paper Company will post 1.34 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s payout ratio is -28.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Citigroup boosted their target price on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Seaport Research Partners reiterated a “buy” rating and set a $46.00 price objective on shares of International Paper in a research report on Wednesday, August 12th. UBS Group boosted their price objective on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, International Paper has an average rating of “Moderate Buy” and an average target price of $48.75.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.