Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in International Paper Company (IP)

Sumitomo Mitsui Trust Holdings Inc. cut its position in International Paper Company (NYSE:IP) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,125,248 shares of the basic materials company’s stock after selling 7,456 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of International Paper worth $63,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of International Paper by 5.8% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 95,792 shares of the basic materials company’s stock valued at $5,443,000 after buying an additional 5,275 shares in the last quarter. Comerica Bank grew its stake in shares of International Paper by 1.6% in the third quarter. Comerica Bank now owns 559,563 shares of the basic materials company’s stock valued at $32,001,000 after buying an additional 9,079 shares in the last quarter. Vontobel Swiss Wealth Advisors AG grew its stake in shares of International Paper by 21.6% in the third quarter. Vontobel Swiss Wealth Advisors AG now owns 10,140 shares of the basic materials company’s stock valued at $576,000 after buying an additional 1,800 shares in the last quarter. Teacher Retirement System of Texas grew its stake in International Paper by 0.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 218,146 shares of the basic materials company’s stock worth $12,395,000 after purchasing an additional 1,262 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in International Paper by 4.6% during the 3rd quarter. Advisor Group Inc. now owns 41,249 shares of the basic materials company’s stock worth $2,343,000 after purchasing an additional 1,802 shares in the last quarter. 82.63% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on IP shares. Stephens started coverage on International Paper in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 target price for the company. Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Thursday, October 12th. Vertical Research reissued a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Finally, Credit Suisse Group boosted their target price on International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus price target of $61.73.

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Shares of International Paper Company (NYSE:IP) opened at $54.21 on Friday. The stock has a market capitalization of $22,384.83, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.46. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 2.31. International Paper Company has a fifty-two week low of $47.85 and a fifty-two week high of $58.96.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. International Paper’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. sell-side analysts predict that International Paper Company will post 3.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.50%. This is an increase from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is 87.56%.

International Paper Profile

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.

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

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