State of Alaska Department of Revenue Sells 23,140 Shares of International Paper (NYSE:IP)

State of Alaska Department of Revenue lowered its position in shares of International Paper (NYSE:IP - Free Report) by 36.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,638 shares of the basic materials company's stock after selling 23,140 shares during the period. State of Alaska Department of Revenue's holdings in International Paper were worth $2,133,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company's stock worth $871,447,000 after purchasing an additional 8,370,273 shares during the period. Geode Capital Management LLC lifted its position in shares of International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company's stock worth $407,463,000 after purchasing an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock worth $206,921,000 after purchasing an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company's stock worth $174,867,000 after purchasing an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company's stock worth $161,006,000 after purchasing an additional 537,825 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on IP. BNP Paribas cut shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Truist Financial reaffirmed a "buy" rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America began coverage on shares of International Paper in a research report on Thursday. They set a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, International Paper has an average rating of "Moderate Buy" and a consensus target price of $51.88.

International Paper Stock Up 1.5 %

NYSE IP traded up $0.81 during trading hours on Friday, reaching $56.25. 7,666,126 shares of the company's stock traded hands, compared to its average volume of 12,418,480. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The firm has a market cap of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. The firm has a 50-day simple moving average of $55.46 and a 200 day simple moving average of $52.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts anticipate that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. International Paper's dividend payout ratio is currently 117.84%.

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.