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

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of International Paper (NYSE:IP) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,070 shares of the basic materials company’s stock after purchasing 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 SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares during the period. Point72 Asset Management L.P. raised its stake in International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after buying an additional 2,484,386 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in International Paper in the third quarter valued at about $84,526,000. Finally, Artemis Investment Management LLP increased its holdings in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of IP opened at $54.75 on Tuesday. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of 34.87 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The firm has a fifty day simple moving average of $55.68 and a 200 day simple moving average of $52.03. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Research analysts forecast 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. Stockholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is currently 117.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $51.88.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.

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.