International Paper (NYSE:IP) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lessened its stake in International Paper (NYSE:IP - Free Report) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,968 shares of the basic materials company's stock after selling 39,056 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in International Paper were worth $8,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after acquiring an additional 7,424 shares in the last quarter. Wedmont Private Capital acquired a new stake in International Paper in the fourth quarter worth about $376,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after purchasing an additional 15,904 shares during the period. Merit Financial Group LLC acquired a new stake in shares of International Paper during the fourth quarter worth about $372,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of International Paper during the fourth quarter worth about $788,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Activity at International Paper

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com downgraded International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 target price (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Finally, Truist Financial decreased their price target on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $54.21.

International Paper Price Performance

Shares of IP stock traded up $0.34 during trading hours on Monday, hitting $50.48. 3,951,311 shares of the company's stock were exchanged, compared to its average volume of 8,045,130. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market cap of $26.65 billion, a P/E ratio of 32.15, a P/E/G ratio of 0.39 and a beta of 1.03. The firm has a 50 day moving average of $48.72 and a two-hundred day moving average of $53.42. International Paper has a fifty-two week low of $40.63 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the company posted $0.17 earnings per share. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. Sell-side analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, May 23rd. International Paper's dividend 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.