Tokio Marine Asset Management Co. Ltd. Raises Position in International Paper Company (NYSE:IP)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its position in International Paper by 27.0%, owning 28,144 shares valued at $1.5 million.
• International Paper reported $0.20 earnings per share, missing estimates of $0.38, although its revenue rose 42.9% year-over-year to $6.77 billion.
• The company announced a quarterly dividend of $0.4625, representing an annualized yield of 3.9%, despite a negative payout ratio.

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 27.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,144 shares of the basic materials company's stock after acquiring an additional 5,975 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in International Paper were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Greenleaf Trust lifted its stake in shares of International Paper by 2.5% during the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after buying an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after buying an additional 231 shares in the last quarter. Csenge Advisory Group lifted its stake in shares of International Paper by 1.5% during the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after buying an additional 234 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of International Paper by 6.0% during the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after buying an additional 235 shares in the last quarter. Finally, Wimmer Associates 1 LLC lifted its stake in shares of International Paper by 3.8% during the 4th quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock valued at $401,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Performance

International Paper stock opened at $47.80 on Friday. The company's 50-day moving average price is $49.17 and its 200-day moving average price is $50.17. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The company has a market cap of $25.24 billion, a PE ratio of -478.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04.

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

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.9%. International Paper's payout ratio is -1,850.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IP. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. UBS Group started coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $55.46.

About International Paper

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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