Strs Ohio Sells 259,978 Shares of International Paper Company $IP

Strs Ohio reduced its stake in International Paper Company (NYSE:IP) by 95.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,555 shares of the basic materials company’s stock after selling 259,978 shares during the quarter. Strs Ohio’s holdings in International Paper were worth $495,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IP. Capital International Investors lifted its position in International Paper by 51.4% in the 3rd quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after acquiring an additional 16,622,062 shares in the last quarter. Capital Research Global Investors lifted its position in International Paper by 7.5% in the 3rd quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock valued at $2,520,945,000 after acquiring an additional 3,768,772 shares in the last quarter. Invesco Ltd. lifted its position in International Paper by 11.8% in the 3rd quarter. Invesco Ltd. now owns 9,121,170 shares of the basic materials company’s stock valued at $423,222,000 after acquiring an additional 960,240 shares in the last quarter. BNP Paribas Financial Markets lifted its position in International Paper by 19.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,039,300 shares of the basic materials company’s stock worth $233,824,000 after buying an additional 809,727 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in International Paper by 94.8% during the 4th quarter. SG Americas Securities LLC now owns 1,590,689 shares of the basic materials company’s stock worth $62,657,000 after buying an additional 774,301 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 0.3%

Shares of NYSE:IP opened at $33.00 on Friday. The stock has a market capitalization of $17.47 billion, a PE ratio of -5.19 and a beta of 0.93. The company’s 50-day moving average price is $36.51 and its two-hundred day moving average price is $39.74. International Paper Company has a one year low of $29.45 and a one year high of $56.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities analysts forecast that International Paper Company will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IP. Wells Fargo & Company raised shares of International Paper from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $38.00 to $39.00 in a research report on Monday, May 4th. Seaport Research Partners raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, May 1st. Royal Bank Of Canada cut their price target on shares of International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group boosted their price target on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, UBS Group cut their price target on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.73.

Insider Transactions at International Paper

In other news, Director Anders Gustafsson bought 13,217 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the acquisition, the director owned 26,092 shares in the company, valued at $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Tozier bought 10,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the acquisition, the director owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 36,092 shares of company stock worth $1,313,064. 0.21% of the stock is owned by insiders.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.