Asset Management One Co. Ltd. Acquires 78,380 Shares of International Paper Company (NYSE:IP)

Asset Management One Co. Ltd. increased its stake in International Paper Company (NYSE:IP - Free Report) by 64.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,899 shares of the basic materials company's stock after acquiring an additional 78,380 shares during the period. Asset Management One Co. Ltd.'s holdings in International Paper were worth $10,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in International Paper by 18.0% in the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock worth $946,000 after acquiring an additional 2,685 shares in the last quarter. Wakefield Asset Management LLLP purchased a new stake in International Paper during the fourth quarter valued at about $502,000. Korea Investment CORP boosted its position in International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock valued at $16,720,000 after buying an additional 213,783 shares during the period. Raymond James Financial Inc. purchased a new stake in International Paper during the fourth quarter valued at about $21,307,000. Finally, Assenagon Asset Management S.A. boosted its position in International Paper by 37.3% during the first quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company's stock valued at $1,194,000 after buying an additional 6,077 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, the chief accounting officer now owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IP. Wells Fargo & Company restated an "underweight" rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. UBS Group began coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target for the company. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Finally, Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $54.54.

International Paper Trading Up 2.0%

Shares of International Paper stock traded up $0.94 during trading on Friday, reaching $47.45. 4,305,535 shares of the stock were exchanged, compared to its average volume of 7,077,415. International Paper Company has a 1 year low of $42.26 and a 1 year high of $60.36. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04. The stock's fifty day moving average is $47.03 and its 200 day moving average is $51.38. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the company earned $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, May 23rd. International Paper's payout ratio is currently 158.12%.

International Paper 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.