International Paper Company $IP Shares Sold by National Pension Service

National Pension Service trimmed its stake in shares of International Paper Company (NYSE:IP) by 98.2% during the 4th quarter, Holdings Channel reports. The fund owned 13,157 shares of the basic materials company’s stock after selling 698,792 shares during the quarter. National Pension Service’s holdings in International Paper were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its holdings in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares during the period. Sound Income Strategies LLC grew its holdings in International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the period. Kelleher Financial Advisors acquired a new stake in International Paper during the third quarter worth about $36,000. Laurel Wealth Advisors LLC acquired a new stake in International Paper during the fourth quarter worth about $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in International Paper during the third quarter worth about $49,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IP. Deutsche Bank Aktiengesellschaft began coverage on International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 target price on the stock. Seaport Research Partners raised International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Friday, May 1st. BNP Paribas Exane lowered their price target on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada lowered their price target on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Truist Financial lowered their price target on International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Insider Activity at International Paper

In other news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This represents a 102.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 36,092 shares of company stock worth $1,313,064. Company insiders own 0.21% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $33.81 on Wednesday. The company has a market capitalization of $17.90 billion, a P/E ratio of -5.32 and a beta of 0.96. The business’s 50 day moving average is $33.90 and its two-hundred day moving average is $38.49. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper Company has a 12-month low of $29.26 and a 12-month high of $56.13.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. Analysts expect that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is -29.09%.

International Paper Company Profile

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.