Mitsubishi UFJ Trust & Banking Corp Has $8.04 Million Position in International Paper (NYSE:IP)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Cerity Partners LLC lifted its holdings in shares of International Paper by 7.3% during the 3rd quarter. Cerity Partners LLC now owns 38,050 shares of the basic materials company's stock worth $1,859,000 after acquiring an additional 2,588 shares during the period. Brooklyn Investment Group bought a new position in International Paper during the third quarter worth about $25,000. Townsquare Capital LLC acquired a new stake in International Paper during the third quarter valued at approximately $336,000. CreativeOne Wealth LLC grew its stake in shares of International Paper by 96.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 21,769 shares of the basic materials company's stock valued at $1,063,000 after purchasing an additional 10,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of International Paper by 2.2% in the 3rd 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 worth $97,686,000 after buying an additional 42,151 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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International Paper Trading Down 10.4 %

Shares of NYSE IP traded down $5.68 during midday trading on Thursday, hitting $48.78. The stock had a trading volume of 2,113,143 shares, compared to its average volume of 9,380,664. The firm has a market cap of $25.66 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company's 50-day simple moving average is $54.62 and its 200 day simple moving average is $53.84.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. Research analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced 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 yield of 3.79%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio is presently 117.83%.

Wall Street Analyst Weigh In

IP has been the topic of a number of analyst reports. Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Truist Financial reaffirmed a "buy" rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, International Paper currently has an average rating of "Moderate Buy" and an average target price of $55.32.

International Paper 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.