MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $81,000 Stock Holdings in International Paper (NYSE:IP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in shares of International Paper (NYSE:IP) by 93.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,527 shares of the basic materials company’s stock after selling 20,668 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in International Paper were worth $81,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its position in International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC raised its position in International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after purchasing an additional 8,720,575 shares in the last quarter. Alyeska Investment Group L.P. raised its position in International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock worth $212,522,000 after purchasing an additional 2,266,762 shares in the last quarter. Norges Bank acquired a new position in International Paper in the fourth quarter worth about $109,201,000. Finally, Slate Path Capital LP acquired a new position in International Paper in the fourth quarter worth about $102,796,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Down 2.8%

Shares of NYSE IP opened at $45.83 on Monday. The company’s fifty day moving average is $47.17 and its 200-day moving average is $52.01. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 0.39 and a beta of 1.04. International Paper has a twelve month low of $41.50 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the business earned $0.17 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. Equities research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.04%. International Paper’s payout ratio is 158.12%.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IP has been the topic of several research analyst reports. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $54.54.

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.