Tokio Marine Asset Management Co. Ltd. Purchases 1,503 Shares of International Paper (NYSE:IP)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of International Paper (NYSE:IP) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,179 shares of the basic materials company’s stock after purchasing an additional 1,503 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in International Paper were worth $1,035,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IP. Metis Global Partners LLC lifted its holdings in International Paper by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 37,988 shares of the basic materials company’s stock valued at $1,856,000 after purchasing an additional 5,074 shares during the last quarter. Curi RMB Capital LLC bought a new stake in shares of International Paper during the 3rd quarter worth about $4,870,000. KBC Group NV grew its stake in International Paper by 23.4% in the 3rd quarter. KBC Group NV now owns 51,072 shares of the basic materials company’s stock valued at $2,495,000 after buying an additional 9,693 shares during the last quarter. Huntington National Bank raised its holdings in International Paper by 4.7% in the 3rd quarter. Huntington National Bank now owns 164,560 shares of the basic materials company’s stock valued at $8,039,000 after acquiring an additional 7,348 shares during the period. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of International Paper by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 785 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now owns 38,345 shares in the company, valued at $2,051,457.50. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,840 shares of company stock valued at $910,826. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial restated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Royal Bank of Canada raised their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

International Paper Stock Up 2.0 %

Shares of NYSE IP opened at $57.58 on Friday. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a market cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. The company has a 50 day simple moving average of $50.15 and a 200 day simple moving average of $46.34.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. On average, research analysts forecast that International Paper will post 1.29 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.21%. International Paper’s payout ratio is 158.12%.

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.