Nomura Asset Management Co. Ltd. Purchases 1,843 Shares of International Paper (NYSE:IP)

Nomura Asset Management Co. Ltd. lifted its holdings in International Paper (NYSE:IP) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,736 shares of the basic materials company’s stock after purchasing an additional 1,843 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $7,852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IP. Brooklyn Investment Group purchased a new stake in International Paper in the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in shares of International Paper in the second quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper during the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter worth $28,000. Finally, Eastern Bank purchased a new position in International Paper in the third quarter worth about $40,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 0.6 %

NYSE IP opened at $54.86 on Friday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company’s 50-day moving average price is $53.67 and its 200-day moving average price is $48.85. The stock has a market cap of $19.06 billion, a PE ratio of 46.44 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

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

International Paper Announces Dividend

The company also recently announced 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 dividend yield of 3.37%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Analyst Ratings Changes

Several research firms have recently issued reports on IP. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.54.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 3,600 shares of company stock valued at $188,592. 0.55% of the stock is currently owned by corporate insiders.

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.