Illinois Municipal Retirement Fund Grows Stake in International Paper (NYSE:IP)

Illinois Municipal Retirement Fund lifted its holdings in shares of International Paper (NYSE:IP) by 30.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,884 shares of the basic materials company’s stock after buying an additional 45,555 shares during the period. Illinois Municipal Retirement Fund’s holdings in International Paper were worth $7,081,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Venturi Wealth Management LLC boosted its position in shares of International Paper by 37.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after buying an additional 295 shares during the last quarter. Allworth Financial LP lifted its holdings in International Paper by 4.7% in the third quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 306 shares during the period. XML Financial LLC lifted its holdings in International Paper by 0.4% in the third quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock valued at $3,116,000 after acquiring an additional 312 shares during the period. Parkside Financial Bank & Trust lifted its holdings in International Paper by 19.8% in the third quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 314 shares during the period. Finally, Pinion Investment Advisors LLC raised its stake in shares of International Paper by 1.9% in the fourth quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company’s stock worth $705,000 after buying an additional 361 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper 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 completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

NYSE IP opened at $34.41 on Wednesday. The stock has a market capitalization of $11.95 billion, a PE ratio of 41.96 and a beta of 0.99. The business has a 50 day simple moving average of $36.72 and a two-hundred day simple moving average of $35.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. On average, research analysts predict that International Paper will post 1.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on IP shares. Wells Fargo & Company decreased their price objective on 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. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. 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. Truist Financial reissued a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Finally, Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, International Paper has a consensus rating of “Hold” and a consensus price target of $37.13.

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.