Sumitomo Mitsui DS Asset Management Company Ltd Purchases 7,201 Shares of International Paper (NYSE:IP)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of International Paper (NYSE:IP) by 20.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,355 shares of the basic materials company’s stock after purchasing an additional 7,201 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in International Paper were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in International Paper during the 2nd quarter worth $26,000. MCF Advisors LLC increased its position in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the period. Crewe Advisors LLC acquired a new stake in International Paper in the 1st quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in International Paper in the 2nd quarter valued at about $37,000. Finally, Hilltop National Bank grew its position in shares of International Paper by 58.9% during the 2nd quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 415 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were 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 approximately $2,433,296.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $934,142 over the last quarter. 0.55% of the stock is owned by company insiders.

International Paper Price Performance

Shares of NYSE:IP opened at $46.95 on Tuesday. International Paper has a one year low of $31.76 and a one year high of $50.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 95.82 and a beta of 1.04. The firm has a 50 day simple moving average of $47.99 and a 200 day simple moving average of $44.25.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. Research analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IP. Truist Financial increased their price target on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upped their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company raised their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.46.

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.