Strs Ohio Has $495,000 Position in International Paper Company $IP

Key Points

• Strs Ohio sharply reduced its International Paper stake by 95.4% in the fourth quarter, selling 259,978 shares and ending with 12,555 shares worth about $495,000.
• International Paper has seen mixed Wall Street sentiment: analysts currently rate the stock a “Moderate Buy,” with nine Buy ratings, three Holds, and two Sells, and an average price target of $43.73.
• The company recently missed earnings expectations, reporting $0.15 EPS versus the expected $0.18, though quarterly revenue rose 13.4% year over year to $5.97 billion.

Strs Ohio lowered its stake in International Paper Company (NYSE:IP - Free Report) by 95.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,555 shares of the basic materials company's stock after selling 259,978 shares during the period. Strs Ohio's holdings in International Paper were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Private Wealth Advisors LLC grew its holdings in International Paper by 4.1% during the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company's stock worth $243,000 after acquiring an additional 243 shares during the period. Evergreen Capital Management LLC grew its holdings in International Paper by 1.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company's stock worth $736,000 after acquiring an additional 263 shares during the period. Horizon Investments LLC grew its holdings in International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock worth $333,000 after acquiring an additional 267 shares during the period. Rafferty Asset Management LLC grew its holdings in International Paper by 0.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company's stock worth $2,088,000 after acquiring an additional 268 shares during the period. Finally, Ballentine Partners LLC grew its holdings in International Paper by 5.2% during the 3rd quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company's stock worth $253,000 after acquiring an additional 271 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analyst Weigh In

IP has been the subject of a number of analyst reports. BNP Paribas Exane lowered their target price on shares of International Paper from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Truist Financial lowered their target price on shares of International Paper from $48.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Citigroup reduced their price target on shares of International Paper from $44.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Stifel Nicolaus reduced their price target on shares of International Paper from $51.80 to $50.70 and set a "buy" rating on the stock in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of International Paper from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.73.

Insiders Place Their Bets

In other news, Director Anders Gustafsson purchased 13,217 shares of International Paper stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares in the company, valued at $987,060.36. This trade represents a 102.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Tozier acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost 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. This represents a 40,000.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 36,092 shares of company stock worth $1,313,064. Insiders own 0.21% of the company's stock.

International Paper Trading Down 0.3%

Shares of NYSE IP opened at $33.00 on Friday. The company's fifty day moving average is $36.51 and its 200-day moving average is $39.74. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of -5.19 and a beta of 0.93. International Paper Company has a twelve month low of $29.45 and a twelve month high of $56.13. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. Equities research analysts predict that International Paper Company will post 1.43 EPS for the current year.

About International Paper

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.

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