Mitsubishi UFJ Trust & Banking Corp Cuts Stake in International Paper Company $IP

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in International Paper Company (NYSE:IP) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,201 shares of the basic materials company’s stock after selling 12,234 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in International Paper were worth $9,568,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IP. Gentry Private Wealth LLC boosted its holdings in International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 188 shares during the period. Wellington Shields Capital Management LLC increased its holdings in International Paper by 7.0% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 226 shares during the period. Atalanta Sosnoff Capital LLC raised its position in International Paper by 3.8% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock valued at $317,000 after purchasing an additional 245 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of International Paper by 10.1% in the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after buying an additional 259 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in shares of International Paper by 1.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock valued at $736,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent research reports. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, November 24th. Royal Bank Of Canada set a $55.00 price objective on shares of International Paper and gave the company an “outperform” rating in a research report on Thursday, December 18th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Finally, Jefferies Financial Group increased their target price on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Hold” and a consensus target price of $49.07.

International Paper Stock Performance

NYSE IP opened at $41.44 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. International Paper Company has a 1 year low of $35.56 and a 1 year high of $58.97. The company has a market capitalization of $21.88 billion, a PE ratio of -15.88, a P/E/G ratio of 0.49 and a beta of 1.10. The company has a fifty day moving average of $40.11 and a two-hundred day moving average of $44.20.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. As a group, analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.