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

Ontario Teachers Pension Plan Board raised its position in International Paper (NYSE:IP) by 24.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 96,771 shares of the basic materials company’s stock after purchasing an additional 18,710 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in International Paper were worth $3,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Manchester Capital Management LLC acquired a new position in shares of International Paper during the third quarter worth approximately $25,000. CVA Family Office LLC acquired a new position in shares of International Paper during the fourth quarter worth approximately $27,000. Assetmark Inc. lifted its position in shares of 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 purchasing an additional 649 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of International Paper during the fourth quarter worth approximately $36,000. Finally, Venturi Wealth Management LLC raised its stake 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 worth $39,000 after buying an additional 295 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 3.0 %

Shares of IP stock traded up $1.27 during trading hours on Thursday, hitting $42.91. 4,734,386 shares of the company were exchanged, compared to its average volume of 5,470,401. The business has a 50 day moving average of $37.83 and a two-hundred 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. International Paper has a 52 week low of $29.00 and a 52 week high of $43.42. The company has a market capitalization of $14.90 billion, a PE ratio of 85.93 and a beta of 1.01.

International Paper (NYSE:IP) last announced 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 return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts anticipate that International Paper will post 1.85 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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 issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.31%. The ex-dividend date is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Analysts Set New Price Targets

IP has been the subject of a number of recent research reports. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Wells Fargo & Company lowered their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction on 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 sale, 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 is accessible through this hyperlink. Over the last 90 days, insiders sold 9,400 shares of company stock worth $334,570. 0.55% of the stock is owned by insiders.

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.