Meiji Yasuda Asset Management Co Ltd. lessened its holdings in International Paper Co (NYSE:IP) by 11.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 12,872 shares of the basic materials company’s stock after selling 1,640 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Paper were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of IP. Alambic Investment Management L.P. bought a new stake in International Paper during the 4th quarter worth approximately $287,000. Fluent Financial LLC raised its position in shares of International Paper by 177.8% during the fourth quarter. Fluent Financial LLC now owns 34,742 shares of the basic materials company’s stock valued at $1,402,000 after buying an additional 22,238 shares during the last quarter. Good Life Advisors LLC raised its position in shares of International Paper by 10.3% during the first quarter. Good Life Advisors LLC now owns 7,913 shares of the basic materials company’s stock valued at $363,000 after buying an additional 736 shares during the last quarter. FTB Advisors Inc. raised its position in shares of International Paper by 5.6% during the fourth quarter. FTB Advisors Inc. now owns 71,343 shares of the basic materials company’s stock valued at $2,878,000 after buying an additional 3,801 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of International Paper by 124.6% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 242,273 shares of the basic materials company’s stock valued at $9,778,000 after buying an additional 134,400 shares during the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.
IP stock opened at $43.26 on Friday. International Paper Co has a fifty-two week low of $37.55 and a fifty-two week high of $57.57. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $17.29 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.54.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, May 24th. International Paper’s dividend payout ratio (DPR) is presently 37.59%.
Several research firms have recently issued reports on IP. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. UBS Group reduced their price objective on shares of International Paper from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Citigroup lifted their price objective on shares of International Paper from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada cut shares of International Paper from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $54.00 to $47.00 in a research report on Friday, April 5th. Finally, Barclays reduced their price objective on shares of International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.00.
In related news, SVP Thomas J. Plath sold 1,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $45,170.00. Following the completion of the transaction, the senior vice president now directly owns 30,671 shares of the company’s stock, valued at $1,385,409.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jeanmichel Ribieras sold 5,000 shares of International Paper stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total transaction of $234,250.00. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
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International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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