Asset Management One Co. Ltd. Cuts Holdings in International Paper (NYSE:IP)

Asset Management One Co. Ltd. decreased its stake in shares of International Paper (NYSE:IP) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,718 shares of the basic materials company’s stock after selling 9,385 shares during the quarter. Asset Management One Co. Ltd.’s holdings in International Paper were worth $4,666,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of International Paper by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock worth $2,391,000 after acquiring an additional 3,209 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of International Paper by 4.5% during the 1st quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock worth $399,000 after acquiring an additional 369 shares in the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 211 shares in the last quarter. Cibc World Market Inc. acquired a new stake in shares of International Paper during the 1st quarter worth about $206,000. Finally, Vontobel Holding Ltd. raised its position in shares of International Paper by 1.6% during the 1st quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock worth $1,947,000 after acquiring an additional 676 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 0.3 %

Shares of IP stock opened at $38.25 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. International Paper has a twelve month low of $29.00 and a twelve month high of $41.28. The company has a market capitalization of $13.28 billion, a P/E ratio of 46.65 and a beta of 0.99. The business’s 50 day moving average is $36.43 and its two-hundred day moving average is $35.78.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts forecast that International Paper will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial reaffirmed a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday, March 20th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, International Paper has a consensus rating of “Hold” and a consensus price target of $37.13.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 8,200 shares of company stock worth $287,770 over the last three months. 0.51% of the stock is currently owned by corporate insiders.

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.