Arizona State Retirement System Has $5.16 Million Stake in International Paper (NYSE:IP)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Proficio Capital Partners LLC acquired a new position in International Paper during the 4th quarter valued at about $9,063,000. SPC Financial Inc. lifted 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 worth $759,000 after buying an additional 200 shares in the last quarter. Assetmark Inc. lifted 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 worth $115,000 after buying an additional 946 shares in the last quarter. Steward Partners Investment Advisory LLC lifted 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 worth $1,345,000 after buying an additional 537 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of International Paper during the 4th quarter worth approximately $162,000. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

IP stock opened at $52.39 on Friday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a market cap of $27.56 billion, a P/E ratio of 33.37, a PEG ratio of 0.39 and a beta of 1.02. The firm has a 50-day moving average of $55.49 and a 200 day moving average of $53.27. 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) 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 return on equity of 4.75% and a net margin of 2.99%. On average, sell-side analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is 117.83%.

Wall Street Analyst Weigh In

IP has been the topic of a number of research reports. Citigroup initiated coverage on shares of International Paper in a report on Wednesday. They issued a “buy” rating and a $60.00 price target on the stock. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average price target of $54.86.

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.