Illinois Municipal Retirement Fund Has $7.08 Million Position in International Paper (NYSE:IP)

Illinois Municipal Retirement Fund raised its stake in International Paper (NYSE:IP) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,884 shares of the basic materials company’s stock after purchasing an additional 45,555 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of International Paper worth $7,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IP. Wedge Capital Management L L P NC grew its stake in International Paper by 16.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 238,194 shares of the basic materials company’s stock worth $8,611,000 after buying an additional 33,128 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in International Paper by 4.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 12,018 shares of the basic materials company’s stock worth $434,000 after buying an additional 545 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in International Paper by 26.4% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,114 shares of the basic materials company’s stock worth $981,000 after buying an additional 5,664 shares in the last quarter. CWM LLC grew its stake in International Paper by 20.9% during the fourth quarter. CWM LLC now owns 17,615 shares of the basic materials company’s stock worth $637,000 after buying an additional 3,046 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in International Paper by 2.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 23,253 shares of the basic materials company’s stock worth $841,000 after buying an additional 662 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 8,800 shares of company stock valued at $310,438 in the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Down 1.0 %

International Paper stock opened at $34.41 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28. The firm has a 50 day moving average price of $36.72 and a two-hundred day moving average price of $35.84. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. Equities analysts predict that International Paper will post 1.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Wells Fargo & Company dropped 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 report on Friday, February 2nd. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.13.

International Paper 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.