Sumitomo Mitsui DS Asset Management Company Ltd Has $2.32 Million Stock Holdings in International Paper (NYSE:IP)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in International Paper (NYSE:IP) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 43,070 shares of the basic materials company’s stock after buying an additional 715 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Paper were worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt increased its position in International Paper by 429.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,576 shares of the basic materials company’s stock worth $175,000 after buying an additional 2,900 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of International Paper by 677.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 1,355 shares in the last quarter. ORG Wealth Partners LLC bought a new position in International Paper during the third quarter worth about $88,000. Wesbanco Bank Inc. raised its stake in International Paper by 11.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company’s stock worth $994,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Creative Planning boosted its holdings in International Paper by 6.6% in the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock valued at $3,562,000 after purchasing an additional 4,500 shares during the period. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of a number of analyst reports. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by insiders.

International Paper Trading Down 2.4 %

Shares of IP opened at $54.75 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The firm has a market cap of $19.02 billion, a price-to-earnings ratio of 34.87 and a beta of 1.02. The business’s fifty day moving average is $55.68 and its 200-day moving average is $52.03.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities analysts anticipate that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is 117.84%.

International Paper 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.