Oregon Public Employees Retirement Fund Buys 14,846 Shares of International Paper Company $IP

Oregon Public Employees Retirement Fund grew its holdings in shares of International Paper Company (NYSE:IP) by 32.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 60,390 shares of the basic materials company’s stock after purchasing an additional 14,846 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in International Paper were worth $2,802,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Benjamin Edwards Inc. acquired a new position in International Paper during the third quarter worth about $505,000. HB Wealth Management LLC grew its position in shares of International Paper by 17.0% in the 3rd quarter. HB Wealth Management LLC now owns 7,875 shares of the basic materials company’s stock valued at $365,000 after buying an additional 1,146 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of International Paper by 4.0% during the third quarter. D.A. Davidson & CO. now owns 109,142 shares of the basic materials company’s stock worth $5,064,000 after purchasing an additional 4,186 shares during the last quarter. City Holding Co. purchased a new position in shares of International Paper during the 3rd quarter worth approximately $46,000. Finally, Daymark Wealth Partners LLC lifted its position in International Paper by 1.4% during the third quarter. Daymark Wealth Partners LLC now owns 86,372 shares of the basic materials company’s stock worth $4,008,000 after buying an additional 1,223 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BNP Paribas Exane raised International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Monday, November 24th. Argus dropped their target price on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. JPMorgan Chase & Co. reduced their price target on International Paper from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, December 5th. UBS Group cut their target price on International Paper from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial boosted their target price on shares of International Paper from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.65.

International Paper Stock Performance

Shares of NYSE IP opened at $42.39 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. International Paper Company has a one year low of $35.56 and a one year high of $60.15. The business’s 50-day moving average price is $38.82 and its two-hundred day moving average price is $44.79. The company has a market capitalization of $22.38 billion, a P/E ratio of -16.24, a price-to-earnings-growth ratio of 0.47 and a beta of 1.10.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter in the previous year, the company earned $0.33 EPS. International Paper’s revenue for the quarter was up 56.4% compared to the same quarter last year. Analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Clay R. Ellis sold 18,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total value of $693,480.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

International Paper Profile

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.