Treasurer of the State of North Carolina Increases Stock Holdings in International Paper (NYSE:IP)

Treasurer of the State of North Carolina grew its position in International Paper (NYSE:IP - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,986 shares of the basic materials company's stock after purchasing an additional 19,270 shares during the period. Treasurer of the State of North Carolina owned about 0.05% of International Paper worth $9,418,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. SPC Financial Inc. raised its position in International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after acquiring an additional 200 shares during the period. AlphaMark Advisors LLC increased its position in shares of International Paper by 5.7% during the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock valued at $205,000 after buying an additional 204 shares during the period. Inspire Advisors LLC lifted its stake in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after purchasing an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock worth $86,000 after buying an additional 205 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock worth $820,000 after acquiring an additional 212 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IP shares. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Truist Financial reiterated a "buy" rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of "Moderate Buy" and an average price target of $55.32.

International Paper Trading Up 0.0 %

Shares of NYSE IP traded up $0.02 during midday trading on Friday, reaching $46.32. The company had a trading volume of 3,511,121 shares, compared to its average volume of 8,946,266. The stock has a market cap of $24.45 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. International Paper has a one year low of $33.16 and a one year high of $60.36. The firm's fifty day moving average price is $52.09 and its 200-day moving average price is $53.59. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.99%. International Paper's payout ratio is currently 117.83%.

About International Paper

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.