Alaska Permanent Fund Corp Cuts Stock Position in International Paper (NYSE:IP)

Alaska Permanent Fund Corp trimmed its position in International Paper (NYSE:IP - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,276 shares of the basic materials company's stock after selling 34,322 shares during the period. Alaska Permanent Fund Corp's holdings in International Paper were worth $299,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC bought a new stake in shares of International Paper during the 3rd quarter worth $25,000. CVA Family Office LLC bought a new stake in shares of International Paper during the 4th quarter worth $27,000. Venturi Wealth Management LLC lifted its holdings in shares of International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company's stock worth $28,000 after acquiring an additional 753 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of International Paper during the 4th quarter worth $36,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of International Paper during the 3rd quarter worth $39,000. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IP. Truist Financial reaffirmed a "buy" rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research report on Sunday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $43.00 target price on shares of International Paper 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 lifted their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Citigroup upgraded shares of International Paper from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $37.13.

Insider Buying and Selling

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the company'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 transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 8,800 shares of company stock valued at $310,438 over the last quarter. Corporate insiders own 0.55% of the company's stock.

International Paper Trading Up 0.9 %

Shares of NYSE IP traded up $0.31 during midday trading on Friday, hitting $33.83. 6,735,103 shares of the company traded hands, compared to its average volume of 6,058,422. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.19 and a current ratio of 1.68. The stock has a 50-day moving average price of $36.64 and a 200 day moving average price of $35.81. The firm has a market cap of $11.75 billion, a P/E ratio of 69.04 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the firm earned $0.53 EPS. The company's revenue was down 8.0% on a year-over-year basis. As a group, analysts expect that International Paper will post 1.91 earnings per share for the current year.

International Paper Company 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.