International Paper Co (IP) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. raised its stake in shares of International Paper Co (NYSE:IP) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,568 shares of the basic materials company’s stock after purchasing an additional 2,833 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $3,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. FTB Advisors Inc. increased its position in International Paper by 6.0% during the first quarter. FTB Advisors Inc. now owns 58,132 shares of the basic materials company’s stock worth $3,098,000 after buying an additional 3,307 shares in the last quarter. Daiwa Securities Group Inc. increased its position in International Paper by 9.0% during the first quarter. Daiwa Securities Group Inc. now owns 15,133 shares of the basic materials company’s stock worth $809,000 after buying an additional 1,246 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in International Paper by 31.8% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 60,967 shares of the basic materials company’s stock worth $3,180,000 after buying an additional 14,703 shares in the last quarter. Dupont Capital Management Corp purchased a new position in International Paper during the first quarter worth $196,000. Finally, Wedge Capital Management L L P NC grew its position in shares of International Paper by 4.2% in the first quarter. Wedge Capital Management L L P NC now owns 149,895 shares of the basic materials company’s stock valued at $8,009,000 after purchasing an additional 6,099 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.
A number of brokerages have recently commented on IP. Zacks Investment Research downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Stephens reaffirmed a “hold” rating and issued a $57.00 price objective on shares of International Paper in a research report on Thursday, July 5th. ValuEngine downgraded International Paper from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Deutsche Bank began coverage on International Paper in a research report on Monday, June 18th. They issued a “hold” rating and a $64.00 price objective for the company. Finally, BMO Capital Markets lowered their price objective on International Paper from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $64.50.
IP stock opened at $51.61 on Friday. International Paper Co has a 12-month low of $50.00 and a 12-month high of $66.94. The company has a quick ratio of 1.13, a current ratio of 1.57 and a debt-to-equity ratio of 1.57. The stock has a market cap of $21.31 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.05 and a beta of 1.50.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.10. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. International Paper had a return on equity of 29.24% and a net margin of 12.95%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. research analysts anticipate that International Paper Co will post 5.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Wednesday, August 15th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, August 14th. International Paper’s dividend payout ratio is presently 54.44%.
About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
Featured Article: NASDAQ Stock Market Explained
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.