International Paper Company $IP Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in International Paper Company (NYSE:IP) by 5.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 206,201 shares of the basic materials company’s stock after selling 12,234 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in International Paper were worth $9,568,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IP. CNB Bank raised its stake in International Paper by 88.4% during the 3rd quarter. CNB Bank now owns 1,880 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 882 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of International Paper in the third quarter valued at approximately $2,053,000. Root Financial Partners LLC acquired a new position in shares of International Paper in the third quarter valued at approximately $76,000. Cravens & Co Advisors LLC purchased a new stake in shares of International Paper during the third quarter worth approximately $290,000. Finally, Allstate Corp acquired a new stake in shares of International Paper during the third quarter worth $801,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.8%

Shares of IP opened at $41.44 on Thursday. International Paper Company has a twelve month low of $35.56 and a twelve month high of $58.97. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $21.88 billion, a P/E ratio of -15.88, a PEG ratio of 0.49 and a beta of 1.10. The firm’s 50-day moving average is $40.11 and its two-hundred day moving average is $44.20.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.International Paper’s revenue was up 56.4% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. On average, research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

IP has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Argus dropped their price target on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Jefferies Financial Group lifted their price objective on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Citigroup cut their target price on International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus price target of $49.07.

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.