Mutual of America Capital Management LLC Cuts Stake in International Paper (NYSE:IP)

Mutual of America Capital Management LLC lessened its holdings in shares of International Paper (NYSE:IPGet Rating) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,559 shares of the basic materials company’s stock after selling 1,124 shares during the period. Mutual of America Capital Management LLC’s holdings in International Paper were worth $2,115,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IP. Metis Global Partners LLC grew its stake in International Paper by 42.5% during the 1st quarter. Metis Global Partners LLC now owns 8,725 shares of the basic materials company’s stock valued at $403,000 after acquiring an additional 2,603 shares in the last quarter. Arizona State Retirement System boosted its holdings in International Paper by 1.3% in the 1st 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 during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in International Paper by 29.4% in the 1st 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 during the last quarter. Ropes Wealth Advisors LLC boosted its holdings in International Paper by 6.4% in the 1st 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 during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in International Paper by 11.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 216,370 shares of the basic materials company’s stock valued at $9,985,000 after purchasing an additional 22,558 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Insider Buying and Selling

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

International Paper Price Performance

Shares of IP opened at $36.81 on Thursday. International Paper has a fifty-two week low of $30.69 and a fifty-two week high of $50.23. The firm’s 50 day moving average price is $33.83 and its 200 day moving average price is $40.37. The company has a market cap of $13.09 billion, a P/E ratio of 7.01 and a beta of 0.99. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.50.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 yield of 5.03%. The ex-dividend date is Monday, November 14th. International Paper’s payout ratio is currently 35.24%.

Wall Street Analyst Weigh In

IP has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of International Paper in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. BMO Capital Markets decreased their target price on shares of International Paper from $60.00 to $50.00 in a report on Friday, October 28th. Deutsche Bank Aktiengesellschaft lowered shares of International Paper from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $44.00 to $29.00 in a report on Tuesday, October 18th. Truist Financial decreased their price objective on shares of International Paper from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, October 28th. Finally, Jefferies Financial Group lowered shares of International Paper from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $40.00 to $31.00 in a report on Friday, September 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.44.

International Paper 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

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

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