2,197 Shares in International Paper Company $IP Bought by South Dakota Investment Council

South Dakota Investment Council purchased a new stake in International Paper Company (NYSE:IP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,197 shares of the basic materials company’s stock, valued at approximately $103,000.

Other large investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its stake in International Paper by 2.0% in the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock valued at $751,000 after acquiring an additional 282 shares in the last quarter. Consolidated Planning Corp acquired a new position in International Paper in the second quarter valued at $317,000. Whalen Wealth Management Inc. acquired a new position in International Paper in the second quarter valued at $604,000. MBB Public Markets I LLC acquired a new position in International Paper in the first quarter valued at $313,000. Finally, Alliancebernstein L.P. boosted its stake in International Paper by 47.0% in the first quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company’s stock valued at $29,526,000 after acquiring an additional 176,991 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IP shares. Truist Financial decreased their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the company a “buy” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. lowered their price objective on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. UBS Group lowered their price objective on shares of International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Finally, Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.67.

International Paper Trading Down 1.1%

Shares of International Paper stock opened at $36.52 on Wednesday. The company has a market capitalization of $19.28 billion, a P/E ratio of -365.20, a PEG ratio of 0.54 and a beta of 1.10. The company’s fifty day moving average is $46.28 and its two-hundred day moving average is $47.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a 1 year low of $36.30 and a 1 year high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm’s revenue was up 56.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. Analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.1%. International Paper’s payout ratio is -70.88%.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently 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.