Meag Munich Ergo Kapitalanlagegesellschaft MBH Sells 97,914 Shares of International Paper Co (IP)

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Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its position in International Paper Co (NYSE:IP) by 86.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,874 shares of the basic materials company’s stock after selling 97,914 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in International Paper were worth $730,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IP. Independence Bank of Kentucky grew its stake in shares of International Paper by 5.4% during the first quarter. Independence Bank of Kentucky now owns 27,755 shares of the basic materials company’s stock worth $1,284,000 after acquiring an additional 1,410 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of International Paper by 20.5% during the first quarter. SG Americas Securities LLC now owns 116,926 shares of the basic materials company’s stock worth $5,410,000 after acquiring an additional 19,909 shares during the last quarter. Hartford Investment Management Co. grew its stake in shares of International Paper by 10.6% during the first quarter. Hartford Investment Management Co. now owns 62,055 shares of the basic materials company’s stock worth $2,871,000 after acquiring an additional 5,952 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of International Paper by 46.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,734 shares of the basic materials company’s stock worth $5,448,000 after acquiring an additional 37,446 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of International Paper by 7.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 109,513 shares of the basic materials company’s stock worth $5,067,000 after acquiring an additional 7,138 shares during the last quarter. Hedge funds and other institutional investors own 81.41% of the company’s stock.

In other International Paper news, SVP Jeanmichel Ribieras sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total value of $234,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy S. Nicholls sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $46.67, for a total value of $2,100,150.00. The disclosure for this sale can be found here. Insiders sold 90,760 shares of company stock valued at $4,250,837 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on IP. UBS Group dropped their price target on International Paper from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Bank of America lowered International Paper from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Barclays dropped their target price on International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Citigroup reiterated a “buy” rating and issued a $53.00 target price on shares of International Paper in a research report on Friday, February 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $49.00 target price on shares of International Paper in a research report on Tuesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Shares of NYSE:IP opened at $46.34 on Friday. International Paper Co has a 12-month low of $37.55 and a 12-month high of $59.57. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.43 and a quick ratio of 0.96.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.20. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the company posted $0.94 earnings per share. International Paper’s revenue for the quarter was up .4% on a year-over-year basis. On average, sell-side analysts anticipate that International Paper Co will post 5.17 EPS for the current year.

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International Paper Company Profile

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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