Mizuho Asset Management Co. Ltd. Raises Stake in International Paper Co. (IP)
Mizuho Asset Management Co. Ltd. boosted its stake in International Paper Co. (NYSE:IP) by 114.4% during the second quarter, Holdings Channel reports. The fund owned 5,604 shares of the company’s stock after buying an additional 2,990 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in International Paper were worth $237,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Royal London Asset Management Ltd. raised its position in International Paper by 1.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 149,214 shares of the company’s stock worth $5,699,000 after buying an additional 1,676 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in International Paper by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 50,710 shares of the company’s stock worth $1,912,000 after buying an additional 200 shares in the last quarter. Norges Bank bought a new position in International Paper during the fourth quarter worth about $139,488,000. Chevy Chase Trust Holdings Inc. raised its position in International Paper by 1.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 347,900 shares of the company’s stock worth $14,277,000 after buying an additional 5,753 shares in the last quarter. Finally, DnB Asset Management AS raised its position in International Paper by 29.4% in the first quarter. DnB Asset Management AS now owns 29,497 shares of the company’s stock worth $1,211,000 after buying an additional 6,700 shares in the last quarter. 81.88% of the stock is currently owned by institutional investors.
International Paper Co. (NYSE:IP) traded down 0.47% during mid-day trading on Tuesday, reaching $48.76. 757,377 shares of the company’s stock traded hands. The company has a 50-day moving average of $47.52 and a 200-day moving average of $43.47. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90. The company has a market capitalization of $20.05 billion, a price-to-earnings ratio of 26.41 and a beta of 1.59.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. Equities research analysts expect that International Paper Co. will post $3.50 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a $0.44 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.59%. International Paper’s dividend payout ratio (DPR) is presently 94.12%.
A number of equities analysts recently issued reports on the company. Credit Agricole SA raised their price target on International Paper from $45.00 to $53.00 and gave the stock an “underperform” rating in a report on Tuesday, September 6th. Citigroup Inc. raised their price objective on shares of International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, August 31st. Deutsche Bank AG restated a “hold” rating and issued a $42.00 price objective on shares of International Paper in a research report on Wednesday, August 31st. Jefferies Group restated a “hold” rating on shares of International Paper in a research report on Monday, August 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $47.00 price objective on shares of International Paper in a research report on Saturday, August 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and an average price target of $46.14.
In other International Paper news, insider William P. Hoel sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Carol L. Roberts sold 12,256 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.
International Paper Company Profile
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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