Illinois Municipal Retirement Fund Has $1.43 Million Stake in International Paper (NYSE:IP)

Illinois Municipal Retirement Fund trimmed its stake in International Paper (NYSE:IP) by 73.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,565 shares of the basic materials company’s stock after selling 73,929 shares during the period. Illinois Municipal Retirement Fund’s holdings in International Paper were worth $1,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in International Paper in the 3rd quarter worth $24,327,000. Aptus Capital Advisors LLC grew its position in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 785 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of International Paper during the 4th quarter valued at about $376,000. Finally, Curi RMB Capital LLC bought a new stake in International Paper in the third quarter valued at about $4,870,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 0.2 %

Shares of International Paper stock opened at $56.34 on Friday. The stock has a market capitalization of $29.64 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $55.71 and a 200 day simple moving average of $53.07. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. Research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is presently 117.83%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IP. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Bank of America initiated coverage on International Paper in a research note 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 given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

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.