Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in International Paper (NYSE:IP)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of International Paper (NYSE:IP) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 937,324 shares of the basic materials company’s stock after buying an additional 49,125 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in International Paper were worth $45,788,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper during the 3rd quarter worth about $28,000. Innealta Capital LLC acquired a new position in International Paper in the 2nd quarter worth about $26,000. Crewe Advisors LLC purchased a new position in International Paper during the first quarter worth approximately $29,000. Eastern Bank acquired a new stake in International Paper in the third quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of International Paper in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated 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 sale, the director now owns 38,345 shares in the company, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock worth $910,826 in the last ninety days. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

IP has been the topic of a number of recent analyst reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday. Truist Financial restated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Price Performance

NYSE:IP opened at $57.58 on Friday. The stock has a 50 day moving average price of $50.15 and a 200 day moving average price of $46.34. The stock has a market cap of $20.00 billion, a PE ratio of 48.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a one year low of $31.76 and a one year high of $59.52.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Equities research analysts expect that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Announces Dividend

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

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.