Mitsubishi UFJ Asset Management Co. Ltd. Purchases 40,498 Shares of International Paper Company $IP

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of International Paper Company (NYSE:IP) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,086,369 shares of the basic materials company’s stock after acquiring an additional 40,498 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in International Paper were worth $43,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of International Paper by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock worth $2,535,058,000 after acquiring an additional 310,834 shares during the last quarter. Capital Research Global Investors raised its position in shares of International Paper by 7.5% during the third quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock worth $2,520,945,000 after acquiring an additional 3,768,772 shares during the last quarter. Capital International Investors raised its position in shares of International Paper by 51.4% during the third quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock worth $2,272,966,000 after acquiring an additional 16,622,062 shares during the last quarter. State Street Corp raised its position in shares of International Paper by 0.8% during the third quarter. State Street Corp now owns 29,612,060 shares of the basic materials company’s stock worth $1,374,000,000 after acquiring an additional 225,444 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of International Paper by 11.8% during the third quarter. Invesco Ltd. now owns 9,121,170 shares of the basic materials company’s stock worth $423,222,000 after acquiring an additional 960,240 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other International Paper news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares in the company, valued at approximately $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the purchase, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 36,092 shares of company stock valued at $1,313,064 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

International Paper Trading Down 0.3%

NYSE IP opened at $33.00 on Friday. The stock has a 50-day simple moving average of $36.51 and a 200 day simple moving average of $39.74. The company has a market capitalization of $17.47 billion, a PE ratio of -5.19 and a beta of 0.93. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper Company has a 12 month low of $29.45 and a 12 month high of $56.13.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. Research analysts forecast that International Paper Company will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IP shares. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Truist Financial dropped their target price on International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Friday, May 1st. Wells Fargo & Company upgraded International Paper from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $39.00 in a research report on Monday. Finally, Jefferies Financial Group upped their price objective on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

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.