International Paper (NYSE:IP) Position Trimmed by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its stake in International Paper (NYSE:IP) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,420 shares of the basic materials company’s stock after selling 3,424 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in International Paper were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in International Paper in the 3rd quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new position in International Paper during the third quarter valued at approximately $28,000. Finally, Picton Mahoney Asset Management lifted its stake in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.4 %

Shares of IP stock opened at $51.59 on Tuesday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. 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 $27.14 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock has a 50 day moving average of $55.14 and a 200-day moving average of $53.39.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, equities analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.59%. International Paper’s dividend payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent research reports. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial restated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $54.86.

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.