Public Sector Pension Investment Board Sells 71,800 Shares of International Paper (NYSE:IP)

Public Sector Pension Investment Board trimmed its position in shares of International Paper (NYSE:IP - Free Report) by 80.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,411 shares of the basic materials company's stock after selling 71,800 shares during the period. Public Sector Pension Investment Board's holdings in International Paper were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. CWM LLC increased its stake in shares of International Paper by 8.7% in the second quarter. CWM LLC now owns 16,348 shares of the basic materials company's stock worth $705,000 after purchasing an additional 1,305 shares in the last quarter. Simplicity Wealth LLC bought a new stake in International Paper during the 2nd quarter valued at $201,000. Capital Investment Advisors LLC bought a new position in shares of International Paper in the second quarter worth $212,000. SG Americas Securities LLC grew its position in shares of International Paper by 172.7% in the second quarter. SG Americas Securities LLC now owns 124,700 shares of the basic materials company's stock valued at $5,381,000 after purchasing an additional 78,980 shares in the last quarter. Finally, Czech National Bank grew its position in shares of International Paper by 8.7% in the second quarter. Czech National Bank now owns 66,187 shares of the basic materials company's stock valued at $2,856,000 after purchasing an additional 5,290 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE IP traded up $0.07 during trading hours on Friday, reaching $56.78. 2,204,679 shares of the stock traded hands, compared to its average volume of 3,890,151. The company's 50-day simple moving average is $53.29 and its two-hundred day simple moving average is $48.62. The company has a market capitalization of $19.73 billion, a P/E ratio of 48.53 and a beta of 1.02. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the firm posted $0.64 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Friday, November 15th. International Paper's dividend payout ratio is presently 158.12%.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares of the company's stock, valued at approximately $882,996.40. This represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,040 shares of company stock worth $304,004 in the last ninety days. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. BNP Paribas downgraded International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price for the company. in a research note on Wednesday, November 13th. Truist Financial restated a "buy" rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Argus raised shares of International Paper from a "hold" rating to a "buy" rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has a consensus rating of "Moderate Buy" and an average target price of $51.54.

International Paper 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.