Asset Management One Co. Ltd. Buys 211,396 Shares of International Paper Company $IP

Key Points

• Asset Management One acquired 211,396 International Paper shares worth approximately $7.0 million in the third quarter, while institutional investors collectively own 81.95% of the company.
• International Paper reported quarterly EPS of $0.37, beating estimates of $0.29, though revenue of $6.20 billion fell short of expectations and declined 0.4% year over year.
• The company declared a quarterly dividend of $0.4625, equivalent to $1.85 annually and a 5.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $45.44 versus the stock’s $36.40 price.

Asset Management One Co. Ltd. acquired a new position in International Paper Company (NYSE:IP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 211,396 shares of the basic materials company's stock, valued at approximately $7,012,000.

A number of other institutional investors also recently modified their holdings of the stock. Independence Bank of Kentucky acquired a new stake in shares of International Paper in the third quarter worth $136,000. Oppenheimer & Co. Inc. bought a new stake in shares of International Paper in the 3rd quarter valued at approximately $447,000. Park Avenue Securities LLC acquired a new stake in International Paper in the 3rd quarter valued at $530,000. Apollon Wealth Management LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $1,281,000. Finally, Sigma Planning Corp acquired a new position in International Paper in the third quarter valued at about $1,080,000. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Up 0.1%

IP opened at $36.40 on Monday. The business's fifty day moving average is $34.96 and its two-hundred day moving average is $37.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.77 and a current ratio of 1.01. The company has a market cap of $19.28 billion, a price-to-earnings ratio of -5.55, a PEG ratio of 5.38 and a beta of 0.97. International Paper Company has a one year low of $29.26 and a one year high of $50.25.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.08. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The company's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.43) EPS. Analysts anticipate that International Paper Company will post 1.13 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, November 16th. International Paper's payout ratio is currently -28.20%.

Analysts Set New Price Targets

IP has been the topic of several analyst reports. Argus reissued a "buy" rating and issued a $45.00 target price on shares of International Paper in a research note on Thursday, September 24th. Royal Bank Of Canada increased their price target on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. UBS Group lowered their target price on International Paper from $47.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. Citigroup lowered their price target on International Paper from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on International Paper from $62.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.44.

Insider Activity

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

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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