International Paper (NYSE:IP) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of International Paper (NYSE:IP - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 564,045 shares of the basic materials company's stock after purchasing an additional 58,591 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of International Paper worth $29,810,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after purchasing an additional 340,383 shares during the last quarter. Geode Capital Management LLC boosted its holdings in International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company's stock valued at $407,463,000 after purchasing an additional 99,720 shares during the period. Point72 Asset Management L.P. grew its position in shares of International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock worth $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock worth $108,706,000 after purchasing an additional 1,202,632 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in International Paper by 2.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company's stock valued at $97,686,000 after purchasing an additional 42,151 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

IP has been the topic of a number of research analyst reports. Truist Financial reiterated a "buy" rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. began coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. One investment 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.32.

International Paper Price Performance

IP stock traded down $1.29 on Friday, reaching $47.89. 8,125,261 shares of the company's stock were exchanged, compared to its average volume of 9,480,998. The stock has a fifty day moving average of $54.18 and a 200-day moving average of $53.79. The firm has a market cap of $25.20 billion, a PE ratio of 30.50, a P/E/G ratio of 0.39 and a beta of 0.99. 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 has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted 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%. As a group, equities analysts predict that International Paper will post 2.77 EPS for the current fiscal 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 issued a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. International Paper's dividend payout ratio (DPR) is presently 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.