Nissay Asset Management Corp Japan Makes New $7.69 Million Investment in International Paper Company $IP

Nissay Asset Management Corp Japan purchased a new stake in shares of International Paper Company (NYSE:IP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 201,804 shares of the basic materials company’s stock, valued at approximately $7,689,000.

A number of other institutional investors have also made changes to their positions in the business. Chapin Davis Inc. acquired a new position in shares of International Paper during the 2nd quarter worth about $270,000. Wellington Management Group LLP increased its position in International Paper by 180.1% in the 2nd quarter. Wellington Management Group LLP now owns 350,867 shares of the basic materials company’s stock worth $13,368,000 after buying an additional 225,582 shares during the period. Beacon Pointe Advisors LLC acquired a new position in shares of International Paper during the second quarter worth approximately $7,924,000. Kimelman & Baird LLC acquired a new position in shares of International Paper during the second quarter worth approximately $55,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of International Paper in the second quarter valued at approximately $100,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of NYSE IP opened at $39.34 on Monday. The firm has a market capitalization of $20.83 billion, a price-to-earnings ratio of -6.03 and a beta of 0.94. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The business has a fifty day simple moving average of $39.62 and a 200 day simple moving average of $37.74. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 earnings per share. Sell-side analysts expect that International Paper Company will post 1.34 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

Insider Transactions at International Paper

In other news, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IP shares. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, August 25th. Citigroup raised their price target on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Seaport Research Partners restated a “buy” rating and set a $46.00 price objective on shares of International Paper in a report on Wednesday, August 12th. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

About International Paper

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.