Treasurer of the State of North Carolina Purchases 21,216 Shares of International Paper (NYSE:IP)

Treasurer of the State of North Carolina grew its position in International Paper (NYSE:IPFree Report) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,716 shares of the basic materials company’s stock after purchasing an additional 21,216 shares during the quarter. Treasurer of the State of North Carolina owned approximately 0.05% of International Paper worth $6,424,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IP. Manchester Capital Management LLC bought a new position in International Paper during the third quarter worth $25,000. CVA Family Office LLC bought a new position in International Paper during the fourth quarter worth $27,000. Assetmark Inc. increased its position in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 649 shares during the period. Princeton Global Asset Management LLC bought a new position in International Paper during the fourth quarter worth $36,000. Finally, First Command Advisory Services Inc. bought a new position in International Paper during the third quarter worth $39,000. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IP. Truist Financial increased their price objective on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Wells Fargo & Company boosted their price target on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Finally, Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

Get Our Latest Stock Report on IP

International Paper Stock Up 1.1 %

Shares of NYSE IP opened at $45.09 on Monday. International Paper has a 12-month low of $29.00 and a 12-month high of $46.10. The firm’s 50-day simple moving average is $38.82 and its 200 day simple moving average is $36.97. 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 company has a market cap of $15.66 billion, a price-to-earnings ratio of 92.02 and a beta of 1.06.

International Paper (NYSE:IPGet Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.92 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Thursday, May 23rd. International Paper’s dividend payout ratio is 377.55%.

About International Paper

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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