Arizona State Retirement System Acquires 1,316 Shares of International Paper (NYSE:IP)

Arizona State Retirement System grew its holdings in International Paper (NYSE:IP) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 95,851 shares of the basic materials company’s stock after buying an additional 1,316 shares during the period. Arizona State Retirement System’s holdings in International Paper were worth $5,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new stake in shares of International Paper during the 4th quarter valued at $9,063,000. SPC Financial Inc. raised its position in shares of International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after purchasing an additional 200 shares during the period. Assetmark Inc. raised its position in shares of International Paper by 79.9% during the 4th quarter. Assetmark Inc. now owns 2,130 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 946 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of International Paper by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,989 shares of the basic materials company’s stock valued at $1,345,000 after purchasing an additional 537 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of International Paper during the 4th quarter valued at $162,000. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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 note on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Citigroup started coverage on shares of International Paper in a research note on Wednesday. They set a “buy” rating and a $60.00 target price for the company. Finally, Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Price Performance

IP stock opened at $52.39 on Friday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $55.49 and a 200 day moving average price of $53.27. The stock has a market cap of $27.56 billion, a PE ratio of 33.37, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last announced 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%. Equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued 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 3.53%. International Paper’s payout ratio is 117.83%.

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.