South Dakota Investment Council Has $5.89 Million Holdings in International Paper (NYSE:IP)

South Dakota Investment Council lessened its position in International Paper (NYSE:IP) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,953 shares of the basic materials company’s stock after selling 6,100 shares during the quarter. South Dakota Investment Council’s holdings in International Paper were worth $5,891,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC raised its holdings in International Paper by 2.1% in the 4th quarter. NewSquare Capital LLC now owns 174,709 shares of the basic materials company’s stock worth $6,233,000 after acquiring an additional 3,671 shares during the period. GAMMA Investing LLC bought a new position in shares of International Paper during the 4th quarter worth about $61,000. Illinois Municipal Retirement Fund increased its holdings in shares of International Paper by 30.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 195,884 shares of the basic materials company’s stock worth $7,081,000 after purchasing an additional 45,555 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of International Paper by 16.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 238,194 shares of the basic materials company’s stock worth $8,611,000 after purchasing an additional 33,128 shares during the period. Finally, Capital Investment Advisory Services LLC increased its holdings in shares of International Paper by 4.8% during the 4th quarter. Capital Investment Advisory Services LLC now owns 12,018 shares of the basic materials company’s stock worth $434,000 after purchasing an additional 545 shares during the period. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of several recent analyst reports. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. 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 price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Finally, Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Down 0.1 %

Shares of International Paper stock traded down $0.04 during trading on Wednesday, reaching $34.37. 6,422,315 shares of the company traded hands, compared to its average volume of 4,858,213. 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. The company has a 50 day moving average price of $36.72 and a 200-day moving average price of $35.84. The firm has a market capitalization of $11.94 billion, a PE ratio of 41.96 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts expect that International Paper will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction dated 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 the SEC website. Insiders sold a total of 8,800 shares of company stock worth $310,438 over the last quarter. Insiders own 0.55% of the company’s stock.

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.