Daiwa Securities Group Inc. Acquires 442 Shares of International Paper (NYSE:IP)

Daiwa Securities Group Inc. increased its holdings in International Paper (NYSE:IP) by 1.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,947 shares of the basic materials company’s stock after purchasing an additional 442 shares during the quarter. Daiwa Securities Group Inc.’s holdings in International Paper were worth $2,000,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper during the second quarter worth $119,012,000. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Samlyn Capital LLC acquired a new position in shares of International Paper during the second quarter worth $88,966,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of International Paper during the third quarter worth $84,526,000. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

NYSE IP opened at $58.38 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The stock’s fifty day moving average price is $52.18 and its 200 day moving average price is $47.84. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 49.90 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that International Paper will post 1.22 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,440 shares of company stock valued at $505,070. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus target price of $51.54.

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.