Northwestern Mutual Wealth Management Co. Has $912,000 Stock Holdings in International Paper (NYSE:IP)

Northwestern Mutual Wealth Management Co. raised its holdings in International Paper (NYSE:IP) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,865 shares of the basic materials company’s stock after acquiring an additional 503 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in International Paper were worth $912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group lifted its stake in International Paper by 15.9% in the first quarter. Schroder Investment Management Group now owns 849,303 shares of the basic materials company’s stock valued at $45,922,000 after acquiring an additional 116,395 shares during the last quarter. CWM Advisors LLC lifted its stake in International Paper by 14.0% in the second quarter. CWM Advisors LLC now owns 28,203 shares of the basic materials company’s stock valued at $1,729,000 after acquiring an additional 3,473 shares during the last quarter. Cambria Investment Management L.P. raised its position in shares of International Paper by 16.1% in the second quarter. Cambria Investment Management L.P. now owns 48,985 shares of the basic materials company’s stock valued at $3,003,000 after purchasing an additional 6,790 shares during the period. National Pension Service raised its position in shares of International Paper by 6.5% in the first quarter. National Pension Service now owns 621,123 shares of the basic materials company’s stock valued at $33,584,000 after purchasing an additional 38,083 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of International Paper by 10.2% in the second quarter. New York State Common Retirement Fund now owns 423,046 shares of the basic materials company’s stock valued at $25,937,000 after purchasing an additional 39,046 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.

Shares of NYSE:IP opened at $55.28 on Thursday. International Paper has a 52 week low of $42.48 and a 52 week high of $65.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.42. The company’s fifty day moving average is $57.69 and its 200-day moving average is $59.10. The company has a market capitalization of $21.61 billion, a PE ratio of 19.19 and a beta of 1.05.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 29th. The basic materials company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. International Paper had a net margin of 5.33% and a return on equity of 16.67%. The company had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.60 billion. On average, analysts forecast that International Paper will post 4.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Monday, November 15th will be given a dividend of $1.00 per share. This is an increase from International Paper’s previous quarterly dividend of $0.51. This represents a $4.00 dividend on an annualized basis and a yield of 7.24%. International Paper’s dividend payout ratio is presently 73.21%.

IP has been the topic of a number of recent analyst reports. Truist Securities initiated coverage on shares of International Paper in a research report on Wednesday. They issued a “hold” rating and a $50.00 price target on the stock. UBS Group lifted their price target on shares of International Paper from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Tuesday, September 28th. Wells Fargo & Company dropped their price target on shares of International Paper from $85.00 to $78.00 and set an “overweight” rating on the stock in a research report on Friday, October 8th. Zacks Investment Research lowered shares of International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research report on Monday, July 19th. Finally, Stephens raised shares of International Paper from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $58.00 to $80.00 in a research report on Monday, June 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, International Paper currently has a consensus rating of “Hold” and an average target price of $63.42.

In other news, SVP Jeanmichel Ribieras sold 4,417 shares of the company’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $57.75, for a total value of $255,081.75. Following the completion of the sale, the senior vice president now directly owns 61,333 shares of the company’s stock, valued at approximately $3,541,980.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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