South Dakota Investment Council Sells 6,100 Shares of International Paper (NYSE:IP)

South Dakota Investment Council lowered its stake in shares of International Paper (NYSE:IP) by 3.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 162,953 shares of the basic materials company’s stock after selling 6,100 shares during the quarter. South Dakota Investment Council’s holdings in International Paper were worth $5,891,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IP. Mizuho Markets Americas LLC purchased a new position in shares of International Paper in the third quarter worth about $144,509,000. Acadian Asset Management LLC raised its position in International Paper by 208.0% during the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock valued at $57,129,000 after acquiring an additional 1,087,933 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in International Paper by 13.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after purchasing an additional 1,011,315 shares during the period. AQR Capital Management LLC grew its holdings in International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after purchasing an additional 777,273 shares during the period. Finally, Atlas FRM LLC grew its holdings in International Paper by 30.0% in the third quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock valued at $92,222,000 after purchasing an additional 600,000 shares during the period. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction 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 directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 8,800 shares of company stock valued at $310,438 in the last ninety days. Company insiders own 0.55% of the company’s stock.

International Paper Price Performance

Shares of International Paper stock traded down $0.04 during trading on Wednesday, hitting $34.37. 6,422,315 shares of the company were exchanged, compared to its average volume of 4,858,213. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99. The firm has a 50 day moving average price of $36.72 and a 200 day moving average price of $35.84.

International Paper (NYSE:IP) last released its earnings results 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 firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. International Paper’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 EPS. On average, equities analysts expect that International Paper will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.13.

About International Paper

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.