International Paper (NYSE:IP) Shares Bought by Mn Services Vermogensbeheer B.V.

Posted by Defense World Staff on Jul 14th, 2023

Mn Services Vermogensbeheer B.V. raised its holdings in International Paper (NYSE:IP – Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,000 shares of the basic materials company’s stock after purchasing an additional 7,300 shares during the period. Mn Services Vermogensbeheer B.V. owned about 0.05% of International Paper worth $6,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of International Paper in the fourth quarter valued at about $83,530,000. Greenhaven Associates Inc. boosted its holdings in International Paper by 22.1% in the 4th quarter. Greenhaven Associates Inc. now owns 6,081,825 shares of the basic materials company’s stock worth $210,614,000 after buying an additional 1,099,100 shares during the last quarter. Cowa LLC increased its stake in International Paper by 13,649.1% during the 1st quarter. Cowa LLC now owns 1,002,172 shares of the basic materials company’s stock worth $463,000 after buying an additional 994,883 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of International Paper by 565.0% during the fourth quarter. Marshall Wace LLP now owns 1,155,679 shares of the basic materials company’s stock valued at $40,021,000 after acquiring an additional 981,905 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of International Paper by 117.6% in the first quarter. First Trust Advisors LP now owns 1,591,552 shares of the basic materials company’s stock worth $73,450,000 after acquiring an additional 860,180 shares during the last quarter. 85.80% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 0.1 %

Shares of International Paper stock opened at $31.83 on Friday. The stock has a 50 day moving average of $31.43 and a 200 day moving average of $34.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 8.82 and a beta of 1.05. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $45.17.

International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.03 billion. International Paper had a return on equity of 14.87% and a net margin of 6.28%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. As a group, research analysts predict that International Paper will post 2.28 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Monday, August 14th. International Paper’s dividend payout ratio (DPR) is 51.25%.

Analyst Ratings Changes

A number of brokerages have weighed in on IP. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Friday, July 7th. 58.com reissued a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. Bank of America cut shares of International Paper from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $35.00 to $33.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of International Paper from $31.00 to $27.00 in a research note on Monday, May 1st. Finally, Citigroup dropped their price target on International Paper from $32.00 to $30.00 in a research report on Monday. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Insider Transactions at International Paper

In other International Paper news, SVP Allison B. Magness sold 3,300 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $31.75, for a total value of $104,775.00. Following the sale, the senior vice president now owns 21,055 shares of the company’s stock, valued at $668,496.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

International Paper Company Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.