MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $6 Million Position in International Paper (NYSE:IP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of International Paper (NYSE:IP) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,864 shares of the basic materials company’s stock after purchasing an additional 10,907 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in International Paper were worth $5,996,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IP. Manchester Capital Management LLC acquired a new position in shares of International Paper during the 3rd quarter worth about $25,000. CVA Family Office LLC acquired a new position in shares of International Paper during the 4th quarter worth about $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of International Paper during the 4th quarter worth about $27,000. Venturi Wealth Management LLC boosted its holdings in shares of International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after buying an additional 753 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its holdings in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

Shares of International Paper stock traded down $0.37 on Friday, reaching $39.02. 7,774,303 shares of the stock were exchanged, compared to its average volume of 6,075,588. The firm’s 50 day moving average is $36.06 and its 200-day moving average is $35.49. International Paper has a one year low of $29.00 and a one year high of $41.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The firm has a market cap of $13.51 billion, a PE ratio of 47.59 and a beta of 0.98.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts anticipate that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Wednesday, February 21st. International Paper’s dividend payout ratio (DPR) is presently 225.61%.

Insider Transactions at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 7,600 shares of company stock valued at $264,418. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on IP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of International Paper in a report on Wednesday, March 20th. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Finally, Wells Fargo & Company cut their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.13.

International Paper 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.