Sumitomo Mitsui DS Asset Management Company Ltd Has $2.07 Million Position in International Paper (NYSE:IP)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of International Paper (NYSE:IP) by 20.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,355 shares of the basic materials company’s stock after acquiring an additional 7,201 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Paper were worth $2,069,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after purchasing an additional 199,687 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of International Paper in the first quarter valued at about $1,312,000. Kwmg LLC lifted its position in shares of International Paper by 3.7% during the first quarter. Kwmg LLC now owns 132,454 shares of the basic materials company’s stock valued at $5,168,000 after purchasing an additional 4,766 shares in the last quarter. Brookstone Capital Management increased its stake in International Paper by 1,759.4% in the 1st quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after buying an additional 237,837 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of International Paper in the 1st quarter worth approximately $64,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 0.4 %

NYSE:IP opened at $46.95 on Tuesday. The company has a market cap of $16.31 billion, a P/E ratio of 95.82 and a beta of 1.04. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The stock’s fifty day moving average price is $47.99 and its two-hundred day moving average price is $44.25.

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

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the transaction, the director now directly owns 38,945 shares in the company, valued at $1,872,475.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the transaction, the director now owns 38,945 shares in the company, valued at approximately $1,872,475.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $934,142 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on IP. Truist Financial boosted their price objective on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.46.

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.