Rhumbline Advisers Raises Stock Position in International Paper (NYSE:IP)

Rhumbline Advisers increased its position in shares of International Paper (NYSE:IPGet Rating) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 688,371 shares of the basic materials company’s stock after buying an additional 37,725 shares during the quarter. Rhumbline Advisers’ holdings in International Paper were worth $28,795,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IP. Mutual of America Capital Management LLC increased its stake in shares of International Paper by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 51,683 shares of the basic materials company’s stock worth $2,385,000 after buying an additional 546 shares during the period. Metis Global Partners LLC increased its stake in shares of International Paper by 42.5% during the first quarter. Metis Global Partners LLC now owns 8,725 shares of the basic materials company’s stock worth $403,000 after buying an additional 2,603 shares during the period. Arizona State Retirement System boosted its holdings in International Paper by 1.3% in the first quarter. Arizona State Retirement System now owns 102,408 shares of the basic materials company’s stock valued at $4,726,000 after purchasing an additional 1,318 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in International Paper by 29.4% in the first quarter. Thoroughbred Financial Services LLC now owns 8,028 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its holdings in International Paper by 6.4% in the first quarter. Ropes Wealth Advisors LLC now owns 7,233 shares of the basic materials company’s stock valued at $334,000 after purchasing an additional 433 shares in the last quarter. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other news, SVP Timothy S. Nicholls sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $33.66, for a total transaction of $252,450.00. Following the completion of the sale, the senior vice president now owns 101,897 shares in the company, valued at $3,429,853.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other International Paper news, SVP Timothy S. Nicholls sold 7,500 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $33.66, for a total value of $252,450.00. Following the completion of the transaction, the senior vice president now owns 101,897 shares in the company, valued at $3,429,853.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Paper Co /New/ International sold 4,614,358 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.25, for a total value of $167,270,477.50. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IP. Wells Fargo & Company lowered their price target on International Paper from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, October 28th. Jefferies Financial Group downgraded International Paper from a “hold” rating to an “underperform” rating and lowered their price target for the company from $40.00 to $31.00 in a report on Friday, September 16th. Truist Financial lowered their price target on International Paper from $40.00 to $34.00 and set a “hold” rating for the company in a report on Friday, October 28th. BMO Capital Markets lowered their price target on International Paper from $60.00 to $50.00 in a report on Friday, October 28th. Finally, KeyCorp lowered their price target on International Paper from $37.00 to $27.00 and set an “underweight” rating for the company in a report on Friday, September 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Hold” and a consensus target price of $34.44.

International Paper Price Performance

International Paper stock opened at $36.81 on Thursday. International Paper has a 12 month low of $30.69 and a 12 month high of $50.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.38 and a quick ratio of 0.97. The business has a 50 day simple moving average of $33.83 and a 200-day simple moving average of $40.37. The stock has a market capitalization of $13.09 billion, a PE ratio of 7.01 and a beta of 0.99.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 35.24%.

International Paper Company Profile

(Get Rating)

International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Further Reading

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper (NYSE:IPGet Rating).

Institutional Ownership by Quarter for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.