MetLife Investment Advisors LLC Sells 2,372 Shares of International Paper Co (IP)

MetLife Investment Advisors LLC trimmed its holdings in shares of International Paper Co (NYSE:IP) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,898 shares of the basic materials company’s stock after selling 2,372 shares during the period. MetLife Investment Advisors LLC’s holdings in International Paper were worth $6,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Grassi Investment Management grew its holdings in International Paper by 0.9% during the 2nd quarter. Grassi Investment Management now owns 105,807 shares of the basic materials company’s stock worth $5,510,000 after acquiring an additional 962 shares in the last quarter. Holderness Investments Co. grew its holdings in International Paper by 5.9% during the 1st quarter. Holderness Investments Co. now owns 17,492 shares of the basic materials company’s stock worth $935,000 after acquiring an additional 979 shares in the last quarter. Pitcairn Co. grew its holdings in International Paper by 8.4% during the 2nd quarter. Pitcairn Co. now owns 12,761 shares of the basic materials company’s stock worth $665,000 after acquiring an additional 993 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in International Paper by 23.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,283 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 994 shares in the last quarter. Finally, Townsend & Associates Inc grew its holdings in International Paper by 8.7% during the 2nd quarter. Townsend & Associates Inc now owns 12,407 shares of the basic materials company’s stock worth $646,000 after acquiring an additional 997 shares in the last quarter. Institutional investors own 82.20% of the company’s stock.

Several research analysts have issued reports on IP shares. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, June 5th. Citigroup restated a “buy” rating and issued a $65.00 price target (down from $71.00) on shares of International Paper in a report on Monday, July 23rd. ValuEngine upgraded shares of International Paper from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Deutsche Bank started coverage on shares of International Paper in a report on Monday, June 18th. They issued a “hold” rating and a $64.00 price target on the stock. Finally, MED lowered their price target on shares of International Paper from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Monday, June 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.38.

NYSE:IP opened at $53.24 on Friday. International Paper Co has a fifty-two week low of $50.00 and a fifty-two week high of $66.94. The stock has a market capitalization of $21.41 billion, a PE ratio of 11.69, a PEG ratio of 1.06 and a beta of 1.50. The company has a current ratio of 1.57, a quick ratio of 1.13 and a debt-to-equity ratio of 1.57.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.10. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.80 billion. International Paper had a net margin of 12.95% and a return on equity of 29.24%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. equities research analysts forecast that International Paper Co will post 5.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Wednesday, August 15th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Tuesday, August 14th. International Paper’s payout ratio is currently 54.44%.

In related news, insider W. Michael Jr. Amick sold 10,930 shares of the stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $55.86, for a total value of $610,549.80. Following the completion of the transaction, the insider now directly owns 29,844 shares of the company’s stock, valued at approximately $1,667,085.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sharon R. Ryan sold 15,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $52.87, for a total transaction of $793,050.00. The disclosure for this sale can be found here. Insiders sold a total of 42,930 shares of company stock valued at $2,296,610 over the last ninety days. 0.32% of the stock is currently owned by insiders.

International Paper Company Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including 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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