Mutual of America Capital Management LLC Lowers Position in International Paper (NYSE:IP)

Mutual of America Capital Management LLC trimmed its stake in International Paper (NYSE:IPGet Rating) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,559 shares of the basic materials company’s stock after selling 1,124 shares during the quarter. Mutual of America Capital Management LLC’s holdings in International Paper were worth $2,115,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Ranch Capital Advisors Inc. lifted its position in International Paper by 4.0% during the second quarter. Ranch Capital Advisors Inc. now owns 24,537 shares of the basic materials company’s stock valued at $1,026,000 after buying an additional 951 shares in the last quarter. Cerity Partners LLC acquired a new position in International Paper during the second quarter valued at approximately $422,000. Qtron Investments LLC acquired a new position in International Paper during the second quarter valued at approximately $399,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in International Paper by 6.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 245,279 shares of the basic materials company’s stock valued at $10,261,000 after buying an additional 13,953 shares in the last quarter. Finally, Pictet Asset Management SA lifted its position in International Paper by 35.7% during the second quarter. Pictet Asset Management SA now owns 5,057,703 shares of the basic materials company’s stock valued at $211,564,000 after buying an additional 1,329,598 shares in the last quarter. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com initiated coverage on shares of International Paper in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their target price on shares of International Paper from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, October 28th. Truist Financial reduced their target price on shares of International Paper from $40.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, October 28th. Jefferies Financial Group cut shares of International Paper from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $40.00 to $31.00 in a research report on Friday, September 16th. Finally, BMO Capital Markets reduced their target price on shares of International Paper from $60.00 to $50.00 in a research report on Friday, October 28th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.44.

International Paper Stock Up 0.3 %

Shares of NYSE:IP opened at $36.81 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $33.83 and a 200 day simple moving average of $40.37. The firm has a market cap of $13.09 billion, a PE ratio of 7.01 and a beta of 0.99. International Paper has a 12-month low of $30.69 and a 12-month high of $50.23.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.85 annualized dividend and a yield of 5.03%. International Paper’s payout ratio is 35.24%.

Insider Buying and Selling at International Paper

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

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.

Featured Articles

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper (NYSE:IPGet Rating).

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

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.