International Paper Company $IP Stock Holdings Boosted by Metis Global Partners LLC

Metis Global Partners LLC increased its position in International Paper Company (NYSE:IP) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,614 shares of the basic materials company’s stock after acquiring an additional 10,021 shares during the period. Metis Global Partners LLC’s holdings in International Paper were worth $3,354,000 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 IP. Vanguard Group Inc. grew its position in International Paper by 52.0% in the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after buying an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp increased its position in International Paper by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after acquiring an additional 1,592,411 shares during the period. JPMorgan Chase & Co. raised its stake in International Paper by 21.4% during the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock valued at $481,203,000 after acquiring an additional 1,590,137 shares in the last quarter. Finally, Invesco Ltd. boosted its position in International Paper by 1.1% during the 1st quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock worth $428,941,000 after acquiring an additional 85,732 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IP has been the topic of a number of research analyst reports. Truist Financial lowered their price target on International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Jefferies Financial Group lowered their target price on shares of International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. Citigroup lowered their price target on International Paper from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, JPMorgan Chase & Co. lowered their target price on International Paper from $54.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, International Paper has a consensus rating of “Hold” and a consensus target price of $50.67.

International Paper Stock Up 4.4%

Shares of International Paper stock opened at $38.13 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. International Paper Company has a 12-month low of $35.79 and a 12-month high of $60.36. The firm has a market capitalization of $20.13 billion, a PE ratio of -381.30, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. The stock’s fifty day moving average is $45.56 and its 200-day moving average is $47.42.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 56.4% compared to the same quarter last year. Equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.9%. International Paper’s payout ratio is -70.88%.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is owned by insiders.

International Paper 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.