State of Alaska Department of Revenue Sells 23,140 Shares of International Paper (NYSE:IP)

State of Alaska Department of Revenue lessened its stake in shares of International Paper (NYSE:IP) by 36.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,638 shares of the basic materials company’s stock after selling 23,140 shares during the quarter. State of Alaska Department of Revenue’s holdings in International Paper were worth $2,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bleakley Financial Group LLC boosted its position in shares of International Paper by 12.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,100 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in International Paper by 26.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,106 shares of the basic materials company’s stock valued at $2,232,000 after acquiring an additional 8,669 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in International Paper by 76.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 13,792 shares of the basic materials company’s stock valued at $742,000 after acquiring an additional 5,980 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in International Paper by 17.5% in the 4th quarter. E. Ohman J or Asset Management AB now owns 16,100 shares of the basic materials company’s stock valued at $867,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Mather Group LLC. lifted its position in International Paper by 11.5% in the 4th quarter. Mather Group LLC. now owns 13,485 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 1,388 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IP. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Trading Down 2.4 %

Shares of IP stock opened at $54.75 on Tuesday. The company has a 50 day moving average of $55.68 and a 200-day moving average of $52.03. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The firm has a market cap of $19.02 billion, a P/E ratio of 34.87 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts anticipate that International Paper will post 2.89 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.38%. International Paper’s payout ratio is currently 117.84%.

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.