Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in International Paper (NYSE:IP)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of International Paper (NYSE:IP) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 919,005 shares of the basic materials company’s stock after selling 18,319 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of International Paper worth $49,461,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in International Paper during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper during the third quarter valued at approximately $28,000. Versant Capital Management Inc boosted its position in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares in the last quarter. Finally, City State Bank grew its stake in shares of International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $54.75 on Tuesday. The business has a 50-day simple moving average of $55.68 and a two-hundred day simple moving average of $52.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm has a market cap of $19.02 billion, a price-to-earnings ratio of 34.87 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, analysts expect that International Paper will post 2.89 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

Analyst Upgrades and Downgrades

IP has been the subject of a number of recent research reports. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

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.