Nikko Asset Management Americas Inc. Sells 3,424 Shares of International Paper (NYSE:IP)

Nikko Asset Management Americas Inc. trimmed its holdings in shares of International Paper (NYSE:IP) by 13.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,420 shares of the basic materials company’s stock after selling 3,424 shares during the period. Nikko Asset Management Americas Inc.’s holdings in International Paper were worth $1,153,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of International Paper by 38.8% in the third quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company’s stock valued at $58,000 after buying an additional 331 shares during the last quarter. Atria Investments Inc raised its stake in shares of International Paper by 58.7% in the third quarter. Atria Investments Inc now owns 20,192 shares of the basic materials company’s stock worth $986,000 after acquiring an additional 7,465 shares during the last quarter. KBC Group NV lifted its position in shares of International Paper by 23.4% during the third quarter. KBC Group NV now owns 51,072 shares of the basic materials company’s stock worth $2,495,000 after purchasing an additional 9,693 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 314 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in International Paper by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 50,703 shares of the basic materials company’s stock worth $2,477,000 after purchasing an additional 3,947 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 0.4 %

NYSE IP opened at $51.59 on Tuesday. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. 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 stock’s 50 day moving average price is $55.14 and its two-hundred day moving average price is $53.39. The stock has a market capitalization of $27.14 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 anticipate that International Paper will post 2.77 earnings per share for the current fiscal 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 dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.59%. International Paper’s payout ratio is presently 117.83%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.86.

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.