Alaska Permanent Fund Corp Cuts Stock Holdings in International Paper (NYSE:IP)

Alaska Permanent Fund Corp lessened its position in International Paper (NYSE:IP) by 80.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,276 shares of the basic materials company’s stock after selling 34,322 shares during the quarter. Alaska Permanent Fund Corp’s holdings in International Paper were worth $299,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its holdings in International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 295 shares in the last quarter. Allworth Financial LP lifted its stake in shares of International Paper by 4.7% in the third quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock worth $243,000 after buying an additional 306 shares in the last quarter. XML Financial LLC boosted its position in International Paper by 0.4% during the third quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock worth $3,116,000 after acquiring an additional 312 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in International Paper by 19.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 314 shares in the last quarter. Finally, Pinion Investment Advisors LLC raised its holdings in International Paper by 1.9% in the 4th quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company’s stock valued at $705,000 after acquiring an additional 361 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IP. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. 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. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.13.

Insider Buying and Selling at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 8,800 shares of company stock valued at $310,438 over the last quarter. 0.55% of the stock is owned by company insiders.

International Paper Trading Up 0.9 %

NYSE IP opened at $33.83 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.19. The stock has a market capitalization of $11.75 billion, a P/E ratio of 69.04 and a beta of 0.99. The firm’s 50-day moving average is $36.64 and its two-hundred day moving average is $35.80. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. International Paper’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. On average, sell-side analysts anticipate that International Paper will post 1.91 earnings per share for the current year.

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.