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

Alaska Permanent Fund Corp lessened its position in shares of International Paper (NYSE:IP) by 80.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC purchased a new stake in shares of International Paper in the third quarter valued at about $25,000. CVA Family Office LLC acquired a new position in shares of International Paper during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its stake in International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in International Paper in the 4th quarter valued at approximately $36,000. Finally, First Command Advisory Services Inc. acquired a new stake in International Paper during the 3rd quarter valued at $39,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 8,800 shares of company stock valued at $310,438. Company insiders own 0.55% of the company’s stock.

International Paper Price Performance

IP opened at $33.83 on Friday. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The company’s 50 day simple moving average is $36.64 and its 200 day simple moving average is $35.80. The stock has a market capitalization of $11.75 billion, a PE ratio of 69.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.19 and a current ratio of 1.68.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share 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 analyst estimates of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. As a group, sell-side analysts expect that International Paper will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IP shares. Truist Financial reissued a “buy” rating and issued a $40.00 price target on shares of International Paper in a report on Wednesday, April 17th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.13.

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.