Sumitomo Mitsui Trust Group Inc. Has $45.68 Million Stock Holdings in International Paper Company $IP

Key Points

• Sumitomo Mitsui Trust trimmed its stake in International Paper by 11.6% in Q4 and now owns 1,159,760 shares worth $45.68 million (about 0.22% of the company).
• Insider buying accelerated: CEO Andrew K. Silvernail purchased 50,000 shares (~$1.999M) and Director Anders Gustafsson bought 13,217 shares (~$500k), with insiders acquiring 76,092 shares (~$3.0M) in the quarter.
• International Paper missed Q4 EPS (‑$0.08 vs. $0.28 estimate) despite revenue of $6.01 billion beating estimates, while analysts maintain a "Moderate Buy" consensus with a ~$45.98 target price.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in International Paper Company (NYSE:IP - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,159,760 shares of the basic materials company's stock after selling 151,810 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of International Paper worth $45,683,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Altfest L J & Co. Inc. acquired a new position in shares of International Paper in the 4th quarter valued at $488,000. Robeco Institutional Asset Management B.V. raised its stake in shares of International Paper by 3.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 132,475 shares of the basic materials company's stock valued at $5,218,000 after buying an additional 3,982 shares in the last quarter. Argus Investors Counsel Inc. increased its position in shares of International Paper by 26.6% during the 4th quarter. Argus Investors Counsel Inc. now owns 6,190 shares of the basic materials company's stock worth $244,000 after purchasing an additional 1,300 shares in the last quarter. Alpha Omega Wealth Management LLC bought a new position in International Paper during the 4th quarter valued at about $1,539,000. Finally, V Square Quantitative Management LLC lifted its holdings in International Paper by 11.0% during the 4th quarter. V Square Quantitative Management LLC now owns 14,793 shares of the basic materials company's stock valued at $583,000 after purchasing an additional 1,461 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Activity at International Paper

In other International Paper news, Director Anders Gustafsson purchased 13,217 shares of the stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director directly owned 26,092 shares in the company, valued at $987,060.36. This represents a 102.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction dated Friday, January 30th. The shares were acquired at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the transaction, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 76,092 shares of company stock valued at $2,999,064. 0.21% of the stock is owned by corporate insiders.

International Paper Trading Down 0.1%

IP opened at $36.50 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $19.33 billion, a PE ratio of -5.44 and a beta of 1.14. International Paper Company has a 1-year low of $33.57 and a 1-year high of $56.13. The firm has a 50-day moving average price of $40.28 and a two-hundred day moving average price of $41.02.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company's revenue was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of International Paper from $48.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday. Argus decreased their price objective on shares of International Paper from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of International Paper in a research note on Friday, March 27th. Jefferies Financial Group upped their price objective on shares of International Paper from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada decreased their price objective on shares of International Paper from $55.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.98.

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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