Mizuho Markets Americas LLC Has $87.59 Million Stock Holdings in International Paper (NYSE:IP)

Mizuho Markets Americas LLC lessened its position in International Paper (NYSE:IP) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,792,950 shares of the basic materials company’s stock after selling 8,600 shares during the quarter. International Paper comprises about 1.8% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 15th biggest position. Mizuho Markets Americas LLC owned about 0.52% of International Paper worth $87,586,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empirical Finance LLC lifted its holdings in shares of International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 224 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of International Paper by 20.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after buying an additional 239 shares during the period. Retirement Systems of Alabama boosted its stake in International Paper by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares in the last quarter. Altrius Capital Management Inc grew its position in International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares during the period. Finally, OneDigital Investment Advisors LLC raised its stake in International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 314 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Up 2.0 %

IP opened at $57.58 on Friday. The firm’s fifty day moving average is $50.36 and its two-hundred day moving average is $46.50. The firm has a market cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. International Paper has a twelve month low of $31.76 and a twelve month high of $59.52. 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 (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating 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 business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts anticipate that International Paper will post 1.29 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.21%. International Paper’s payout ratio is 158.12%.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,840 shares of company stock valued at $910,826. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IP has been the topic of several analyst reports. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Royal Bank of Canada increased their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.54.

International Paper Company 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.