Meiji Yasuda Asset Management Co Ltd. Sells 270 Shares of International Paper (NYSE:IP)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in International Paper (NYSE:IP) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,582 shares of the basic materials company’s stock after selling 270 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Paper were worth $247,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms recently weighed in on IP. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Trading Down 2.5 %

IP opened at $53.23 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a fifty day moving average of $54.86 and a 200-day moving average of $53.67. The stock has a market cap of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

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 return on equity of 4.75% and a net margin of 2.99%. On average, sell-side analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

International Paper Company 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.