Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in shares of International Paper Company (NYSE:IP) by 10.3% during the second quarter, Holdings Channel reports. The firm owned 56,529 shares of the basic materials company’s stock after selling 6,514 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in International Paper were worth $3,200,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of International Paper by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock valued at $326,000 after buying an additional 20 shares during the period. Vaughan David Investments Inc. IL increased its position in shares of International Paper by 0.5% in the first quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock valued at $216,000 after buying an additional 21 shares during the period. Mechanics Bank Trust Department increased its position in shares of International Paper by 0.6% in the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC increased its position in shares of International Paper by 0.8% in the first quarter. Checchi Capital Advisers LLC now owns 4,670 shares of the basic materials company’s stock valued at $237,000 after buying an additional 37 shares during the period. Finally, Moloney Securities Asset Management LLC increased its position in shares of International Paper by 0.9% in the second quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock valued at $282,000 after buying an additional 44 shares during the period. 83.04% of the stock is owned by hedge funds and other institutional investors.

Shares of International Paper Company (NYSE:IP) opened at 52.59 on Friday. International Paper Company has a one year low of $43.55 and a one year high of $58.95. The stock has a market cap of $21.72 billion, a PE ratio of 26.71 and a beta of 1.46. The firm has a 50-day moving average of $56.00 and a 200-day moving average of $53.67.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that International Paper Company will post $3.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a dividend yield of 3.52%. International Paper’s dividend payout ratio is currently 93.91%.

COPYRIGHT VIOLATION NOTICE: “International Paper Company (NYSE:IP) Position Decreased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.” was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.watchlistnews.com/international-paper-company-nyseip-position-decreased-by-mitsubishi-ufj-kokusai-asset-management-co-ltd/1481337.html.

IP has been the topic of several research analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of International Paper in a research report on Friday, July 14th. Deutsche Bank AG boosted their price target on shares of International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research report on Thursday, June 29th. BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of International Paper in a research report on Saturday, April 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $57.89.

In other news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.64% of the company’s stock.

About International Paper

International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP).

Institutional Ownership by Quarter for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Company and related companies with Analyst Ratings Network's FREE daily email newsletter.