Sumitomo Mitsui Trust Group Inc. Decreases Position in International Paper (NYSE:IP)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of International Paper (NYSE:IP - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 919,005 shares of the basic materials company's stock after selling 18,319 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of International Paper worth $49,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IP. Pacer Advisors Inc. raised its position in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after purchasing an additional 7,424 shares during the period. Lord Abbett & CO. LLC purchased a new position in International Paper in the 3rd quarter worth $24,327,000. Aptus Capital Advisors LLC raised its position in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock worth $292,000 after purchasing an additional 785 shares during the period. Wedmont Private Capital purchased a new position in International Paper in the 4th quarter worth $376,000. Finally, Curi RMB Capital LLC purchased a new position in International Paper in the 3rd quarter worth $4,870,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Up 1.5 %

Shares of IP traded up $0.81 during trading hours on Friday, reaching $56.25. 7,666,126 shares of the company traded hands, compared to its average volume of 12,418,480. The company's fifty day moving average price is $55.46 and its two-hundred day moving average price is $52.19. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 35.83 and a beta of 1.02. 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 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its 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 net margin of 2.99% and a return on equity of 4.75%. Equities research analysts predict that International Paper will post 2.89 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's payout ratio is currently 117.84%.

Analysts Set New Price Targets

A number of brokerages recently commented on IP. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Bank of America initiated coverage on shares of International Paper in a research report on Thursday. They issued a "neutral" rating on the stock. BNP Paribas cut shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. Finally, Truist Financial restated a "buy" rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.88.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now owns 37,145 shares of the company's stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by insiders.

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.