Nomura Asset Management Co. Ltd. Sells 56,573 Shares of International Paper (NYSE:IP)

Nomura Asset Management Co. Ltd. cut its holdings in shares of International Paper (NYSE:IP) by 35.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 104,163 shares of the basic materials company’s stock after selling 56,573 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $5,606,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new position in International Paper in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper in the 4th quarter valued at about $26,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter worth approximately $28,000. Picton Mahoney Asset Management raised its stake in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of several analyst reports. JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Finally, StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Stock Up 0.5 %

IP stock opened at $53.62 on Wednesday. The company has a market capitalization of $28.21 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The firm’s fifty day simple moving average is $54.69 and its 200-day simple moving average is $53.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is presently 117.83%.

International Paper Company Profile

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.