International Paper (NYSE:IP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of International Paper (NYSE:IP) by 3.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 149,313 shares of the basic materials company’s stock after selling 5,958 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in International Paper were worth $8,036,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday. Finally, StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

Shares of NYSE IP opened at $53.23 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The business has a 50 day simple moving average of $54.86 and a 200-day simple moving average of $53.71.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

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

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.