International Paper Company (IP) Stake Lessened by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of International Paper Company (NYSE:IP) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,362 shares of the basic materials company’s stock after selling 1,100 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Paper were worth $759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IP. Renaissance Technologies LLC acquired a new stake in International Paper during the first quarter worth about $7,338,000. Oxbow Advisors LLC acquired a new stake in International Paper during the second quarter worth about $1,121,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in International Paper during the second quarter worth about $2,655,000. Argus Investors Counsel Inc. raised its stake in International Paper by 1.8% during the second quarter. Argus Investors Counsel Inc. now owns 84,592 shares of the basic materials company’s stock worth $4,789,000 after acquiring an additional 1,482 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new stake in International Paper during the second quarter worth about $82,229,000. Hedge funds and other institutional investors own 82.58% of the company’s stock.

Shares of International Paper Company (IP) traded up $0.04 during trading hours on Thursday, hitting $54.75. 1,085,700 shares of the company’s stock traded hands, compared to its average volume of 2,338,083. International Paper Company has a 12 month low of $48.49 and a 12 month high of $58.96. The firm has a market capitalization of $22,591.30, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.64 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. International Paper had a net margin of 5.92% and a return on equity of 33.50%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the business earned $0.91 earnings per share. International Paper’s revenue was up 12.3% compared to the same quarter last year. sell-side analysts anticipate that International Paper Company will post 3.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.47%. This is a positive change from International Paper’s previous quarterly dividend of $0.46. International Paper’s dividend payout ratio (DPR) is presently 87.56%.

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IP has been the topic of several research reports. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Vertical Research restated a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Barclays PLC restated a “sell” rating and issued a $50.00 price target on shares of International Paper in a research note on Wednesday, August 2nd. DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $53.75 to $62.00 in a research note on Monday, August 14th. Finally, BMO Capital Markets restated a “buy” rating on shares of International Paper in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $61.73.

International Paper Profile

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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