70,078 Shares of International Paper Company $IP Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management acquired 70,078 International Paper shares worth approximately $2.3 million, joining other institutional investors that have recently increased exposure. Institutions collectively own 81.95% of the company.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, three Holds and one Sell rating. International Paper has a “Moderate Buy” consensus rating and an average price target of $46.90.
• International Paper reported quarterly EPS of $0.04, beating estimates, but revenue fell 11.3% year over year to $6 billion and the company posted a negative net margin. It also declared a quarterly dividend of $0.4625, equivalent to a 5.5% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in International Paper Company (NYSE:IP - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,078 shares of the basic materials company's stock, valued at approximately $2,324,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Man Group plc acquired a new stake in shares of International Paper in the 2nd quarter worth approximately $24,640,000. Mitchell & Pahl Private Wealth LLC acquired a new position in shares of International Paper during the third quarter valued at approximately $2,122,000. Amundi acquired a new position in shares of International Paper during the second quarter valued at approximately $82,666,000. The Manufacturers Life Insurance Company increased its stake in shares of International Paper by 50.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company's stock valued at $44,478,000 after acquiring an additional 389,092 shares during the period. Finally, HighTower Advisors LLC bought a new stake in International Paper during the second quarter worth approximately $1,603,000. Institutional investors own 81.95% of the company's stock.

Insider Activity at International Paper

In other news, VP William Hamic sold 24,500 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IP. Weiss Ratings downgraded International Paper from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, October 8th. Citigroup lowered their price target on International Paper from $48.00 to $47.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Seaport Research Partners reiterated a "buy" rating and set a $46.00 price target on shares of International Paper in a research report on Wednesday, August 12th. Loop Capital set a $61.00 price objective on International Paper in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their price objective on International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $46.90.

International Paper Trading Up 0.1%

Shares of IP opened at $33.66 on Friday. The firm's 50 day moving average is $35.62 and its 200-day moving average is $35.97. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm earned $0.20 EPS. The business's revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that International Paper Company will post 1.26 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.4625 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.85 annualized dividend and a yield of 5.5%. International Paper's payout ratio is -28.37%.

International Paper Company Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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