MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $1.19 Million Position in International Paper (NYSE:IP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of International Paper (NYSE:IP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,195 shares of the basic materials company’s stock, valued at approximately $1,191,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FCG Investment Co raised its position in shares of International Paper by 7.0% in the fourth quarter. FCG Investment Co now owns 10,666 shares of the basic materials company’s stock valued at $574,000 after buying an additional 699 shares during the last quarter. Red Door Wealth Management LLC purchased a new stake in International Paper in the 4th quarter worth approximately $215,000. Daymark Wealth Partners LLC raised its holdings in International Paper by 6.5% in the 4th quarter. Daymark Wealth Partners LLC now owns 82,943 shares of the basic materials company’s stock valued at $4,464,000 after acquiring an additional 5,073 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in shares of International Paper by 7.4% during the 4th quarter. Atomi Financial Group Inc. now owns 8,874 shares of the basic materials company’s stock worth $478,000 after purchasing an additional 615 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of International Paper by 3.4% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 49,562 shares of the basic materials company’s stock worth $2,667,000 after purchasing an additional 1,629 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,800 shares of company stock worth $100,848 in the last quarter. 0.55% of the stock is owned by corporate insiders.

International Paper Trading Up 0.6 %

Shares of IP opened at $58.55 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The stock has a market cap of $20.34 billion, a PE ratio of 50.04 and a beta of 1.03. The stock’s 50-day moving average is $56.05 and its two-hundred day moving average is $50.95.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company posted $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts forecast that International Paper will post 1.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IP shares. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial upped their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.99.

About International Paper

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.