Nissay Asset Management Corp Japan Invests $7.69 Million in International Paper Company $IP

Nissay Asset Management Corp Japan purchased a new stake in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 201,804 shares of the basic materials company’s stock, valued at approximately $7,689,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. McIlrath & Eck LLC grew its position in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new position in International Paper in the 4th quarter valued at $25,000. Aberdeen Wealth Management LLC bought a new position in International Paper in the 2nd quarter valued at $27,000. DV Equities LLC acquired a new position in International Paper in the fourth quarter worth $29,000. Finally, Ascentis Independent Advisors acquired a new position in International Paper in the first quarter worth $28,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

International Paper Trading Up 0.1%

Shares of IP opened at $39.34 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25. The firm has a market capitalization of $20.83 billion, a PE ratio of -6.03 and a beta of 0.94. The stock’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $37.74.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. As a group, research analysts predict that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is -28.37%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IP shares. Truist Financial restated a “buy” rating and issued a $49.00 target price (up from $46.00) on shares of International Paper in a research note on Friday, July 31st. Citigroup upped their price target on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Loop Capital set a $61.00 price objective on shares of International Paper in a research report on Tuesday, July 28th. Weiss Ratings raised shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.