Massachusetts Financial Services Co. MA Buys 537,825 Shares of International Paper (NYSE:IP)

Massachusetts Financial Services Co. MA lifted its position in International Paper (NYSE:IP) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,295,926 shares of the basic materials company’s stock after buying an additional 537,825 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.95% of International Paper worth $161,006,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in International Paper in the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper in the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper during the 2nd quarter valued at $37,000. Eastern Bank bought a new position in International Paper during the third quarter worth $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of International Paper in the third quarter valued at $42,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on IP shares. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Royal Bank of Canada increased their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average target price of $51.54.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the sale, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock worth $944,540 over the last three months. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $59.32 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a fifty-two week low of $32.51 and a fifty-two week high of $60.22. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 50.70 and a beta of 1.02. The stock has a fifty day moving average price of $51.45 and a 200-day moving average price of $47.35.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, equities analysts anticipate that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.12%. International Paper’s dividend payout ratio is currently 158.12%.

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.