Manning & Napier Advisors LLC Decreases Stock Position in International Paper (NYSE:IP)

Manning & Napier Advisors LLC lowered its position in shares of International Paper (NYSE:IP) by 39.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,175 shares of the basic materials company’s stock after selling 34,667 shares during the period. Manning & Napier Advisors LLC’s holdings in International Paper were worth $2,808,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in International Paper by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 31,775 shares of the basic materials company’s stock worth $1,371,000 after buying an additional 1,420 shares in the last quarter. Creative Planning lifted its stake in shares of International Paper by 6.1% in the second quarter. Creative Planning now owns 68,425 shares of the basic materials company’s stock worth $2,953,000 after acquiring an additional 3,947 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in International Paper by 4.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,426 shares of the basic materials company’s stock valued at $1,658,000 after purchasing an additional 1,490 shares during the last quarter. NewEdge Advisors LLC grew its stake in International Paper by 1,011.5% during the 2nd quarter. NewEdge Advisors LLC now owns 31,190 shares of the basic materials company’s stock valued at $1,346,000 after purchasing an additional 28,384 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in International Paper during the 2nd quarter worth approximately $1,104,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IP shares. Truist Financial raised their price target on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.99.

International Paper Price Performance

IP opened at $57.83 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $56.19 and its 200 day moving average price is $51.46. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of 49.43 and a beta of 1.03.

International Paper (NYSE:IP) last announced 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. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts expect that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is 158.12%.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

International Paper Company 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.