New York Life Investment Management LLC Increases Holdings in International Paper Company $IP

New York Life Investment Management LLC lifted its position in International Paper Company (NYSE:IP) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,736 shares of the basic materials company’s stock after purchasing an additional 1,275 shares during the quarter. New York Life Investment Management LLC’s holdings in International Paper were worth $3,359,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Gentry Private Wealth LLC raised its stake in shares of International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 188 shares during the last quarter. Wright Investors Service Inc. raised its stake in shares of International Paper by 2.9% in the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 201 shares during the last quarter. Greenleaf Trust raised its stake in shares of International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 224 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 231 shares during the last quarter. Finally, Csenge Advisory Group raised its stake in shares of International Paper by 1.5% in the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock worth $867,000 after purchasing an additional 234 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Down 12.4%

Shares of IP opened at $38.75 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 12 month low of $37.75 and a 12 month high of $60.36. The stock’s 50 day moving average is $46.98 and its two-hundred day moving average is $47.80. The firm has a market cap of $20.46 billion, a P/E ratio of -387.50, a PEG ratio of 0.54 and a beta of 1.10.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. Analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.8%. International Paper’s payout ratio is currently -1,850.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on IP shares. Stifel Nicolaus set a $57.80 price target on International Paper and gave the company a “buy” rating in a research report on Friday, October 17th. Jefferies Financial Group reduced their price target on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Truist Financial reduced their price target on International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.85.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% 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.