20,900 Shares in International Paper (NYSE:IP) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,900 shares of the basic materials company’s stock, valued at approximately $756,000.

Several other large investors also recently bought and sold shares of IP. Mizuho Markets Americas LLC bought a new position in International Paper during the third quarter valued at $144,509,000. Acadian Asset Management LLC increased its position in International Paper by 208.0% during the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock valued at $57,129,000 after acquiring an additional 1,087,933 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in International Paper by 13.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after acquiring an additional 1,011,315 shares during the last quarter. AQR Capital Management LLC increased its position in International Paper by 35.6% during the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after acquiring an additional 777,273 shares during the last quarter. Finally, Atlas FRM LLC increased its position in International Paper by 30.0% during the third quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock valued at $92,222,000 after acquiring an additional 600,000 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IP. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Finally, Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.13.

Insider Buying and Selling

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 8,800 shares of company stock valued at $310,438 over the last three months. 0.55% of the stock is owned by company insiders.

International Paper Stock Up 0.9 %

NYSE:IP opened at $33.83 on Friday. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company has a 50-day moving average of $36.64 and a 200 day moving average of $35.81. The firm has a market cap of $11.75 billion, a PE ratio of 69.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.19.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, research analysts anticipate that International Paper will post 1.91 EPS for the current fiscal year.

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.