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

Tokio Marine Asset Management Co. Ltd. boosted its stake in International Paper (NYSE:IP) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,179 shares of the basic materials company’s stock after buying an additional 1,503 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in International Paper were worth $1,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IP. Diamond Hill Capital Management Inc. boosted its holdings in International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of International Paper by 29.6% in the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock valued at $15,704,000 after acquiring an additional 73,367 shares during the period. Comerica Bank raised its stake in shares of International Paper by 23.6% during the first quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock worth $6,110,000 after purchasing an additional 29,904 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of International Paper by 3.8% during the third quarter. QRG Capital Management Inc. now owns 279,288 shares of the basic materials company’s stock worth $13,643,000 after purchasing an additional 10,260 shares during the last quarter. Finally, Curi RMB Capital LLC purchased a new position in International Paper in the third quarter worth $4,870,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock opened at $57.58 on Friday. International Paper has a 1-year low of $31.76 and a 1-year high of $59.52. The firm’s 50-day moving average price is $50.15 and its two-hundred day moving average price is $46.34. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company upped their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average target price of $51.54.

Insider Transactions at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the transaction, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock worth $910,826 over the last 90 days. 0.55% of the stock is owned by insiders.

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.