Nissay Asset Management Corp Japan ADV Reduces Stock Position in International Paper Company $IP

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in International Paper Company by 19.3%, selling 28,350 shares and owning a total of 118,618 shares worth approximately $6.33 million.
• Several institutional investors made changes to their positions in International Paper, with Cary Street Partners and Ethic Inc. both increasing their holdings during the 4th quarter.
• Analysts have mixed views on International Paper's stock, with a consensus rating of "Hold" and a price target of $55.65, while also reporting a missed earnings estimate for the last quarter.

Nissay Asset Management Corp Japan ADV lessened its stake in shares of International Paper Company (NYSE:IP - Free Report) by 19.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,618 shares of the basic materials company's stock after selling 28,350 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in International Paper were worth $6,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. Cary Street Partners Financial LLC purchased a new position in shares of International Paper during the 4th quarter worth about $409,000. Ethic Inc. lifted its holdings in shares of International Paper by 35.4% during the 4th quarter. Ethic Inc. now owns 22,457 shares of the basic materials company's stock worth $1,209,000 after acquiring an additional 5,870 shares during the period. Ensign Peak Advisors Inc lifted its holdings in shares of International Paper by 4.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 116,406 shares of the basic materials company's stock worth $6,265,000 after acquiring an additional 4,555 shares during the period. Eisler Capital Management Ltd. purchased a new position in shares of International Paper during the 4th quarter worth about $205,000. Finally, Focus Partners Wealth lifted its holdings in shares of International Paper by 5.6% during the 4th quarter. Focus Partners Wealth now owns 411,942 shares of the basic materials company's stock worth $22,171,000 after acquiring an additional 21,839 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IP. JPMorgan Chase & Co. lowered shares of International Paper from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group began coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $55.65.

International Paper Stock Performance

NYSE IP opened at $48.63 on Friday. The business's 50-day simple moving average is $49.72 and its 200-day simple moving average is $49.28. The firm has a market capitalization of $25.68 billion, a P/E ratio of -486.30, a P/E/G ratio of 0.55 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business's revenue was up 42.9% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Equities analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.8%. International Paper's payout ratio is -1,850.00%.

International Paper Company 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.

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