Daiwa Securities Group Inc. Buys 1,705 Shares of International Paper (NYSE:IP)

Daiwa Securities Group Inc. boosted its stake in International Paper (NYSE:IP) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,596 shares of the basic materials company’s stock after purchasing an additional 1,705 shares during the period. Daiwa Securities Group Inc.’s holdings in International Paper were worth $1,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in International Paper by 97.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 506,153 shares of the basic materials company’s stock valued at $18,297,000 after acquiring an additional 249,804 shares during the period. Mackenzie Financial Corp increased its position in International Paper by 263.1% in the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock valued at $4,151,000 after acquiring an additional 83,203 shares during the period. Louisiana State Employees Retirement System acquired a new position in International Paper in the 4th quarter valued at approximately $756,000. Sapient Capital LLC acquired a new position in International Paper in the 4th quarter valued at approximately $1,461,000. Finally, Cerity Partners LLC increased its position in International Paper by 1,323.6% in the 4th quarter. Cerity Partners LLC now owns 172,005 shares of the basic materials company’s stock valued at $6,218,000 after acquiring an additional 159,923 shares during the period. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of several recent analyst reports. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company decreased their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Up 0.1 %

International Paper stock opened at $34.43 on Thursday. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 41.99 and a beta of 0.99. The firm’s fifty day moving average price is $36.71 and its two-hundred day moving average price is $35.83. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that International Paper will post 1.91 earnings per share for the current fiscal year.

Insider Activity at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,800 shares of company stock valued at $310,438 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.