Sumitomo Mitsui DS Asset Management Company Ltd Sells 1,408 Shares of International Paper (NYSE:IP)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in International Paper (NYSE:IP) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,364 shares of the basic materials company’s stock after selling 1,408 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Paper were worth $2,218,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Greenhaven Associates Inc. raised its stake in International Paper by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after acquiring an additional 25,640 shares during the period. Charles Schwab Investment Management Inc. raised its stake in International Paper by 13.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after acquiring an additional 1,011,315 shares during the period. Mizuho Markets Americas LLC bought a new stake in International Paper during the 3rd quarter worth approximately $144,509,000. Northern Trust Corp raised its stake in International Paper by 4.4% during the 3rd quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock worth $128,246,000 after acquiring an additional 151,084 shares during the period. Finally, AQR Capital Management LLC raised its stake in International Paper by 35.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after acquiring an additional 777,273 shares during the period. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,800 shares of company stock valued at $310,438 over the last three months. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Wells Fargo & Company cut their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Trading Up 0.1 %

IP stock opened at $34.43 on Thursday. The firm has a fifty day moving average price of $36.71 and a 200 day moving average price of $35.83. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The firm has a market cap of $11.96 billion, a PE ratio of 41.99 and a beta of 0.99.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. International Paper’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. Sell-side analysts anticipate that International Paper will post 1.91 earnings per share for the current fiscal year.

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.