Strs Ohio Acquires Shares of 228,532 International Paper Company $IP

Key Points

• Strs Ohio has invested approximately $12.19 million in International Paper Company by acquiring 228,532 shares during the first quarter.
• Several institutional investors have increased or established positions in International Paper, with notable increases including a 281.3% boost from Rise Advisors LLC.
• International Paper has faced mixed ratings from analysts, with price targets ranging from $43.00 to $59.00, reflecting a consensus rating of "Hold."

Strs Ohio acquired a new stake in International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 228,532 shares of the basic materials company's stock, valued at approximately $12,192,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC increased its position in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new stake in International Paper during the 1st quarter valued at approximately $34,000. Bernard Wealth Management Corp. acquired a new stake in International Paper during the 4th quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper during the 1st quarter valued at approximately $37,000. Finally, Grove Bank & Trust increased its position in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 623 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Up 0.4%

NYSE IP traded up $0.20 during mid-day trading on Thursday, hitting $47.14. The company's stock had a trading volume of 3,370,130 shares, compared to its average volume of 3,587,043. The company's 50 day simple moving average is $49.06 and its 200 day simple moving average is $48.75. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $24.89 billion, a price-to-earnings ratio of -471.40, a PEG ratio of 0.53 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the previous year, the business posted $0.55 EPS. The business's revenue for the quarter was up 42.9% compared to the same quarter last year. Analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.9%. International Paper's dividend payout ratio (DPR) is presently -1,850.00%.

Insider Transactions at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company's stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial set a $59.00 target price on shares of International Paper in a research report on Wednesday, May 28th. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $55.65.

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.