Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in International Paper (NYSE:IP)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of International Paper (NYSE:IP) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 564,045 shares of the basic materials company’s stock after acquiring an additional 58,591 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of International Paper worth $29,810,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of International Paper in the third quarter worth about $24,327,000. Wedmont Private Capital acquired a new stake in International Paper during the fourth quarter worth about $376,000. Everence Capital Management Inc. purchased a new position in International Paper during the fourth quarter valued at approximately $828,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in International Paper by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock opened at $53.23 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business has a 50 day simple moving average of $54.86 and a two-hundred day simple moving average of $53.76. The stock has a market capitalization of $28.01 billion, a P/E ratio of 33.90, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. International Paper’s payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IP shares. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target for the company. Finally, Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.32.

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.