International Paper (NYSE:IP) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its position in International Paper (NYSE:IP) by 80.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,411 shares of the basic materials company’s stock after selling 71,800 shares during the period. Public Sector Pension Investment Board’s holdings in International Paper were worth $851,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in International Paper in the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new stake in shares of International Paper during the second quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper during the third quarter worth about $28,000. Eastern Bank acquired a new position in shares of International Paper during the 3rd quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC purchased a new position in International Paper in the 3rd quarter valued at about $42,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

International Paper stock opened at $56.78 on Friday. 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 market cap of $19.73 billion, a P/E ratio of 48.53 and a beta of 1.02. The company has a 50-day moving average price of $53.29 and a 200 day moving average price of $48.62. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36.

International Paper (NYSE:IP) last announced 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 the consensus estimate of $4.70 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Royal Bank of Canada raised their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Transactions at International Paper

In related news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,040 shares of company stock worth $304,004. 0.55% of the stock is currently owned by company insiders.

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.