Mitsubishi UFJ Asset Management Co. Ltd. Has $43.73 Million Holdings in International Paper Company $IP

Key Points

• Mitsubishi UFJ Asset Management increased its stake in International Paper by 3.9% in the fourth quarter, holding about $43.7 million worth of shares after the purchase.
• Several analysts recently adjusted their views on IP, with price targets ranging from $36 to $48; the stock currently carries a Moderate Buy consensus rating and a consensus target of $43.73.
• International Paper reported Q1 earnings of $0.15 per share, missing estimates, while revenue came in at $5.97 billion; insiders also bought shares recently, including director Scott Tozier's 10,000-share purchase.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of International Paper Company (NYSE:IP - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,086,369 shares of the basic materials company's stock after purchasing an additional 40,498 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of International Paper worth $43,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC boosted its stake in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock valued at $25,000 after buying an additional 525 shares in the last quarter. Sound Income Strategies LLC boosted its stake in International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company's stock valued at $31,000 after buying an additional 344 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in International Paper in the 3rd quarter valued at $36,000. Laurel Wealth Advisors LLC acquired a new stake in International Paper in the 4th quarter valued at $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in International Paper in the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IP. BNP Paribas Exane decreased their price target on International Paper from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on International Paper in a research note on Wednesday, April 1st. They issued a "hold" rating and a $38.00 price target on the stock. Citigroup decreased their price target on International Paper from $44.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Jefferies Financial Group boosted their price target on International Paper from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company raised International Paper from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $38.00 to $39.00 in a research note on Monday. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.73.

Insider Buying and Selling at International Paper

In other International Paper news, Director Scott Tozier acquired 10,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the transaction, the director owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anders Gustafsson acquired 13,217 shares of the business's stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $37.83 per share, with a total value of $499,999.11. Following the transaction, the director owned 26,092 shares in the company, valued at approximately $987,060.36. The trade was a 102.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 36,092 shares of company stock valued at $1,313,064. Corporate insiders own 0.21% of the company's stock.

International Paper Trading Down 0.3%

Shares of IP opened at $33.00 on Friday. The stock has a fifty day moving average price of $36.51 and a two-hundred day moving average price of $39.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. International Paper Company has a 52-week low of $29.45 and a 52-week high of $56.13. The company has a market cap of $17.47 billion, a price-to-earnings ratio of -5.19 and a beta of 0.93.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that International Paper Company will post 1.43 EPS for the current fiscal year.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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