International Paper (NYSE:IP) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in International Paper (NYSE:IP) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,302 shares of the basic materials company’s stock after selling 1,314 shares during the quarter. Retirement Systems of Alabama’s holdings in International Paper were worth $3,679,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. FMR LLC lifted its holdings in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in International Paper during the second quarter worth approximately $119,012,000. Point72 Asset Management L.P. grew its position in International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after buying an additional 2,484,386 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.4 %

Shares of International Paper stock opened at $53.84 on Friday. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a market cap of $18.70 billion, a P/E ratio of 46.02 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $54.53 and a 200 day moving average price of $49.24.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IP shares. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now owns 38,945 shares in the company, valued at approximately $1,872,475.60. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 3,000 shares of company stock worth $158,904. Corporate insiders own 0.55% of the company’s stock.

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.