Meiji Yasuda Asset Management Co Ltd. Sells 270 Shares of International Paper (NYSE:IP)

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of International Paper (NYSE:IP) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,582 shares of the basic materials company’s stock after selling 270 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Paper were worth $247,000 at the end of the most recent reporting period.

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

International Paper Price Performance

NYSE:IP opened at $53.23 on Friday. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. 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 firm’s 50-day simple moving average is $54.86 and its 200 day simple moving average is $53.67. The firm has a market cap of $28.01 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. As a group, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.48%. International Paper’s payout ratio is 117.83%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. 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 note on Friday, January 31st. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

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.