Nomura Asset Management Co. Ltd. Has $5.61 Million Position in International Paper (NYSE:IP)

Nomura Asset Management Co. Ltd. reduced its stake in shares of International Paper (NYSE:IP - Free Report) by 35.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,163 shares of the basic materials company's stock after selling 56,573 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in International Paper were worth $5,606,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IP. SPC Financial Inc. lifted its stake in International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after purchasing an additional 200 shares during the last quarter. AlphaMark Advisors LLC lifted its position in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after buying an additional 204 shares during the last quarter. Inspire Advisors LLC lifted its position in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after buying an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 205 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

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International Paper Trading Down 2.6 %

Shares of IP traded down $1.29 during mid-day trading on Friday, reaching $47.89. 8,125,261 shares of the company were exchanged, compared to its average volume of 9,480,998. The business has a 50 day simple moving average of $54.18 and a two-hundred day simple moving average of $53.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market capitalization of $25.20 billion, a PE ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. 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 3.86%. International Paper's dividend payout ratio (DPR) is currently 117.83%.

Analyst Upgrades and Downgrades

IP has been the topic of several research reports. 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. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Finally, Truist Financial reaffirmed a "buy" rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.