Strs Ohio Decreases Holdings in International Paper (NYSE:IP)

Strs Ohio decreased its holdings in International Paper (NYSE:IP) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,363 shares of the basic materials company’s stock after selling 6,725 shares during the period. Strs Ohio’s holdings in International Paper were worth $1,748,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Louisiana State Employees Retirement System purchased a new position in shares of International Paper in the fourth quarter worth about $756,000. Sapient Capital LLC purchased a new position in shares of International Paper in the fourth quarter worth about $1,461,000. Cerity Partners LLC increased its stake in shares of International Paper by 1,323.6% in the fourth quarter. Cerity Partners LLC now owns 172,005 shares of the basic materials company’s stock worth $6,218,000 after purchasing an additional 159,923 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of International Paper in the fourth quarter worth about $310,000. Finally, Tobam purchased a new position in shares of International Paper in the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday. Wells Fargo & Company cut 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 research report on Friday, February 2nd. 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 research report on Monday, March 4th. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Trading Up 0.3 %

Shares of International Paper stock opened at $35.37 on Friday. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The firm has a market cap of $12.28 billion, a PE ratio of 43.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The company has a 50 day simple moving average of $36.73 and a two-hundred day simple moving average of $35.84.

International Paper (NYSE:IP) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates 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 business posted $0.87 earnings per share. Analysts expect that International Paper will post 1.88 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the business’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 value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is currently owned by insiders.

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.