Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in International Paper (NYSE:IP)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in International Paper (NYSE:IP) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,313 shares of the basic materials company’s stock after selling 5,958 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in International Paper were worth $8,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Vanguard Group Inc. raised its stake in shares of International Paper by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock worth $2,217,119,000 after purchasing an additional 340,383 shares during the last quarter. Geode Capital Management LLC boosted its holdings in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after purchasing an additional 99,720 shares in the last quarter. Point72 Asset Management L.P. increased its position 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 purchasing an additional 2,484,386 shares during the period. Artemis Investment Management LLP raised its stake in shares of International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after buying an additional 1,202,632 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of International Paper by 2.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company’s stock valued at $97,686,000 after buying an additional 42,151 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on IP shares. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America began coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

IP stock opened at $53.23 on Friday. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The stock’s fifty day simple moving average is $54.86 and its 200-day simple moving average is $53.71.

International Paper (NYSE:IP) last issued its quarterly 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%. Equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a $0.4625 dividend. 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%.

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.