Nomura Asset Management Co. Ltd. Lowers Holdings in International Paper (NYSE:IP)

Nomura Asset Management Co. Ltd. decreased its holdings in International Paper (NYSE:IP) by 35.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,163 shares of the basic materials company’s stock after selling 56,573 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $5,606,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sierra Ocean LLC purchased a new stake in shares of International Paper in the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in International Paper in the 4th quarter worth approximately $26,000. Picton Mahoney Asset Management increased its stake in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper during the 3rd quarter worth approximately $28,000. Finally, Versant Capital Management Inc boosted its position in shares of International Paper by 313.3% during 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. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.5 %

Shares of IP opened at $53.62 on Wednesday. The firm has a fifty day moving average price of $54.69 and a 200-day moving average price of $53.83. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $28.21 billion, a P/E ratio of 34.15, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

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.