MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases New Stake in International Paper (NYSE:IP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 22,195 shares of the basic materials company’s stock, valued at approximately $1,191,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IP. Brooklyn Investment Group acquired a new position in International Paper in the third quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc increased its holdings in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank raised its position in shares of International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the subject of a number of research reports. BNP Paribas downgraded shares of 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. Truist Financial boosted their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $51.99.

International Paper Stock Up 0.6 %

IP opened at $58.55 on Friday. The stock’s fifty day moving average is $56.05 and its 200-day moving average is $50.95. International Paper has a one year low of $32.70 and a one year high of $60.36. The company has a market capitalization of $20.34 billion, a PE ratio of 50.04 and a beta of 1.03. 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 issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the company earned $0.64 EPS. International Paper’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that International Paper will post 1.18 EPS for the current fiscal year.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,800 shares of company stock valued at $100,848 over the last three months. Company insiders own 0.55% of the company’s stock.

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.