Retirement Systems of Alabama Has $2.76 Million Stock Holdings in International Paper (NYSE:IP)

Retirement Systems of Alabama trimmed its holdings in shares of International Paper (NYSE:IP) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,260 shares of the basic materials company’s stock after selling 1,974 shares during the period. Retirement Systems of Alabama’s holdings in International Paper were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IP. Paradiem LLC grew its stake in International Paper by 52.1% during the 4th quarter. Paradiem LLC now owns 195,181 shares of the basic materials company’s stock valued at $7,056,000 after acquiring an additional 66,882 shares in the last quarter. Community Bank N.A. boosted its holdings in shares of International Paper by 5.1% during the fourth quarter. Community Bank N.A. now owns 23,646 shares of the basic materials company’s stock worth $855,000 after purchasing an additional 1,153 shares during the period. Fractal Investments LLC purchased a new position in International Paper during the fourth quarter valued at approximately $307,000. NewSquare Capital LLC increased its stake in International Paper by 2.1% in the 4th quarter. NewSquare Capital LLC now owns 174,709 shares of the basic materials company’s stock valued at $6,233,000 after buying an additional 3,671 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in International Paper in the 4th quarter worth approximately $61,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IP shares. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Truist Financial reissued a “buy” rating and issued a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Finally, Wells Fargo & Company dropped their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Hold” and a consensus price target of $38.57.

Insider Transactions at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the 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 transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 9,400 shares of company stock valued at $331,402. Company insiders own 0.55% of the company’s stock.

International Paper Trading Up 5.2 %

Shares of IP opened at $38.84 on Wednesday. The stock’s 50-day moving average price is $36.84 and its 200 day moving average price is $35.88. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $13.49 billion, a price-to-earnings ratio of 79.27 and a beta of 1.01. International Paper has a 12-month low of $29.00 and a 12-month high of $41.30.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts predict that International Paper will post 1.88 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.