Ontario Teachers Pension Plan Board Purchases 18,710 Shares of International Paper (NYSE:IP)

Ontario Teachers Pension Plan Board grew its holdings in International Paper (NYSE:IPFree Report) by 24.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,771 shares of the basic materials company’s stock after acquiring an additional 18,710 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in International Paper were worth $3,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Teacher Retirement System of Texas raised its stake in International Paper by 57.0% during the third quarter. Teacher Retirement System of Texas now owns 39,389 shares of the basic materials company’s stock worth $1,397,000 after acquiring an additional 14,294 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in International Paper by 6.6% during the third quarter. Daiwa Securities Group Inc. now owns 28,891 shares of the basic materials company’s stock worth $1,025,000 after acquiring an additional 1,787 shares in the last quarter. California Public Employees Retirement System raised its stake in International Paper by 7.7% during the third quarter. California Public Employees Retirement System now owns 705,004 shares of the basic materials company’s stock worth $25,006,000 after acquiring an additional 50,272 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of International Paper by 40.5% during the third quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock worth $743,000 after purchasing an additional 6,033 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of International Paper by 4.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 155,962 shares of the basic materials company’s stock worth $5,532,000 after purchasing an additional 7,150 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

IP traded up $1.27 on Thursday, reaching $42.91. The stock had a trading volume of 4,734,386 shares, compared to its average volume of 5,470,401. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $43.42. The firm has a 50-day moving average of $37.83 and a 200-day moving average of $36.39. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 85.93 and a beta of 1.01.

International Paper (NYSE:IPGet Free Report) last issued its earnings results 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 return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the company earned $0.53 EPS. International Paper’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that International Paper will post 1.85 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 24th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.31%. International Paper’s payout ratio is 377.55%.

Analysts Set New Price Targets

IP has been the topic of several recent research reports. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

Check Out Our Latest Report on International Paper

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 9,400 shares of company stock worth $334,570 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

International Paper Profile

(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.

See Also

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

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