Strs Ohio Sells 73,063 Shares of International Paper Company $IP

Strs Ohio cut its stake in shares of International Paper Company (NYSE:IP) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272,533 shares of the basic materials company’s stock after selling 73,063 shares during the quarter. Strs Ohio owned approximately 0.05% of International Paper worth $12,646,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. CNB Bank increased its holdings in International Paper by 88.4% during the 3rd quarter. CNB Bank now owns 1,880 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 882 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of International Paper during the 3rd quarter worth $2,053,000. Root Financial Partners LLC purchased a new position in shares of International Paper during the third quarter valued at $76,000. Cravens & Co Advisors LLC bought a new stake in shares of International Paper in the third quarter valued at about $290,000. Finally, Allstate Corp purchased a new stake in International Paper in the third quarter worth about $801,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity

In other news, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Up 3.2%

NYSE:IP opened at $43.17 on Monday. The stock has a market capitalization of $22.80 billion, a price-to-earnings ratio of -16.54, a PEG ratio of 0.50 and a beta of 1.10. International Paper Company has a 52 week low of $35.56 and a 52 week high of $60.15. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $39.77 and a 200 day moving average of $44.36.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The business’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, sell-side analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on IP shares. Royal Bank Of Canada set a $55.00 target price on shares of International Paper and gave the company an “outperform” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. dropped their price objective on shares of International Paper from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. UBS Group reduced their price objective on shares of International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Wells Fargo & Company lowered their target price on International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, October 31st. Finally, Jefferies Financial Group lifted their price target on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, International Paper has an average rating of “Hold” and an average price target of $49.07.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.