International Paper Co (NYSE:IP) Holdings Cut by Meiji Yasuda Life Insurance Co

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Meiji Yasuda Life Insurance Co lowered its stake in shares of International Paper Co (NYSE:IP) by 12.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,859 shares of the basic materials company’s stock after selling 1,554 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in International Paper were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IP. Andra AP fonden acquired a new position in International Paper during the first quarter worth $5,002,000. Neuburgh Advisers LLC increased its stake in shares of International Paper by 177.6% in the first quarter. Neuburgh Advisers LLC now owns 246,704 shares of the basic materials company’s stock valued at $11,415,000 after buying an additional 157,828 shares in the last quarter. Advisory Alpha LLC acquired a new stake in shares of International Paper in the first quarter valued at $25,000. Wealthfront Advisers LLC acquired a new stake in shares of International Paper in the first quarter valued at $294,000. Finally, Tyers Asset Management LLC increased its stake in shares of International Paper by 177.6% in the first quarter. Tyers Asset Management LLC now owns 159,632 shares of the basic materials company’s stock valued at $7,386,000 after buying an additional 102,124 shares in the last quarter. 81.32% of the stock is owned by hedge funds and other institutional investors.

International Paper stock opened at $43.26 on Friday. The stock has a market capitalization of $17.29 billion, a P/E ratio of 8.13, a PEG ratio of 1.69 and a beta of 1.54. International Paper Co has a 12-month low of $37.55 and a 12-month high of $57.57. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 1.37.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.20. The business had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.73 billion. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. As a group, equities analysts predict that International Paper Co will post 5.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, May 24th. International Paper’s dividend payout ratio is 37.59%.

In other International Paper news, SVP Jeanmichel Ribieras sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total transaction of $234,250.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Thomas J. Plath sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $45.17, for a total value of $45,170.00. Following the transaction, the senior vice president now owns 30,671 shares in the company, valued at approximately $1,385,409.07. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

A number of analysts have recently weighed in on IP shares. Barclays lowered their target price on International Paper from $40.00 to $39.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Royal Bank of Canada lowered International Paper from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $54.00 to $47.00 in a research note on Friday, April 5th. UBS Group lowered their target price on International Paper from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Bank of America lowered International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Finally, Citigroup raised their target price on International Paper from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.00.

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About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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