Meiji Yasuda Asset Management Co Ltd. Invests $206,000 in International Paper (NYSE:IP)

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of International Paper (NYSE:IP) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,782 shares of the basic materials company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. Retirement Systems of Alabama lifted its position in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of International Paper by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 251 shares in the last quarter. Czech National Bank increased its stake in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after acquiring an additional 295 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 318 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in International Paper by 10.4% during the first quarter. AlphaMark Advisors LLC now owns 3,718 shares of the basic materials company’s stock worth $145,000 after acquiring an additional 351 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now owns 39,802 shares in the company, valued at $1,969,402.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock worth $927,956. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IP has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Finally, Truist Financial lifted their price target on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Price Performance

Shares of NYSE:IP opened at $48.71 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 99.41 and a beta of 1.04. The business has a 50-day simple moving average of $47.00 and a two-hundred day simple moving average of $42.73. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, August 15th. International Paper’s payout ratio is currently 377.55%.

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.