Metis Global Partners LLC Grows Position in International Paper (NYSE:IP)

Metis Global Partners LLC increased its holdings in International Paper (NYSE:IP) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,988 shares of the basic materials company’s stock after purchasing an additional 5,074 shares during the period. Metis Global Partners LLC’s holdings in International Paper were worth $1,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IP. Bank of New York Mellon Corp grew its position in shares of International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper during the second quarter worth about $119,012,000. Diamond Hill Capital Management Inc. lifted its stake in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new position in shares of International Paper in the second quarter worth about $88,966,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IP shares. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.54.

International Paper Price Performance

Shares of NYSE:IP opened at $57.58 on Friday. The company’s fifty day moving average is $50.15 and its two-hundred day moving average is $46.34. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The company has a market cap of $20.00 billion, a P/E ratio of 49.21 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business posted $0.64 earnings per share. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is 158.12%.

Insiders Place Their Bets

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares in the company, valued at $792,729.36. This trade represents a 22.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $910,826 over the last three months. 0.55% of the stock is currently 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.