International Paper (NYSE:IP) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its stake in shares of International Paper (NYSE:IP) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,482 shares of the basic materials company’s stock after selling 218 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in International Paper were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of IP. First Horizon Advisors Inc. grew its position in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares during the period. AlphaMark Advisors LLC grew its holdings 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 purchasing an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares in the last quarter. Empirical Finance LLC raised its holdings in International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after buying an additional 224 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 1.4 %

NYSE:IP opened at $57.15 on Friday. The business’s 50-day simple moving average is $56.17 and its 200 day simple moving average is $51.51. International Paper has a one year low of $32.70 and a one year high of $60.36. The stock has a market cap of $19.85 billion, a price-to-earnings ratio of 48.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last issued its quarterly 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 6.49% and a net margin of 2.25%. As a group, sell-side analysts predict that International Paper will post 1.18 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. Shareholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is presently 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IP shares. Truist Financial raised their target price on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.99.

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.