International Paper (NYSE:IP) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in International Paper (NYSE:IP) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,364 shares of the basic materials company’s stock after selling 1,408 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Paper were worth $2,218,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pathstone Family Office LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $1,164,000. StrategIQ Financial Group LLC acquired a new position in shares of International Paper during the 4th quarter worth approximately $2,271,000. Metis Global Partners LLC raised its stake in shares of International Paper by 6.7% during the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after buying an additional 1,376 shares during the period. SteelPeak Wealth LLC raised its stake in shares of International Paper by 40.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock worth $743,000 after buying an additional 6,033 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of International Paper by 263.1% during the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock worth $4,151,000 after buying an additional 83,203 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on IP shares. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and upped their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Wells Fargo & Company reduced their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.13.

International Paper Stock Up 0.1 %

Shares of NYSE:IP opened at $34.43 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $36.71 and a two-hundred day moving average of $35.83. The stock has a market cap of $11.96 billion, a P/E ratio of 41.99 and a beta of 0.99. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28.

International Paper (NYSE:IP) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. On average, research analysts expect that International Paper will post 1.91 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 8,800 shares of company stock worth $310,438 in the last three months. 0.55% of the stock is owned by corporate insiders.

About International Paper

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.