Strs Ohio Acquires 117,064 Shares of International Paper Company $IP

Strs Ohio raised its holdings in shares of International Paper Company (NYSE:IP) by 51.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 345,596 shares of the basic materials company’s stock after purchasing an additional 117,064 shares during the period. Strs Ohio owned 0.07% of International Paper worth $16,184,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gentry Private Wealth LLC increased its stake in shares of International Paper by 2.1% during the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 188 shares in the last quarter. Wright Investors Service Inc. increased its stake in shares of International Paper by 2.9% during the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 201 shares in the last quarter. Greenleaf Trust increased its stake in shares of International Paper by 2.5% during the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 224 shares in the last quarter. Csenge Advisory Group increased its stake in shares of International Paper by 1.5% during the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 234 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of International Paper by 10.1% during the second quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction 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 $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by insiders.

International Paper Trading Up 0.1%

NYSE:IP opened at $38.66 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 12 month low of $37.70 and a 12 month high of $60.36. The company has a market cap of $20.41 billion, a PE ratio of -386.60, a price-to-earnings-growth ratio of 0.54 and a beta of 1.10. The company has a 50 day simple moving average of $46.78 and a two-hundred day simple moving average of $47.74.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period last year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 56.4% on a year-over-year basis. Research analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.8%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BNP Paribas Exane decreased their price objective on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a report on Wednesday, October 8th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Seaport Res Ptn lowered shares of International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Finally, Truist Financial decreased their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a report on Monday, October 13th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and an average price target of $51.95.

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.