New York State Teachers Retirement System Reduces Stake in International Paper Company $IP

New York State Teachers Retirement System lessened its position in shares of International Paper Company (NYSE:IP) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 330,630 shares of the basic materials company’s stock after selling 4,262 shares during the quarter. New York State Teachers Retirement System owned 0.06% of International Paper worth $15,483,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its stake in shares of International Paper by 2.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock worth $751,000 after purchasing an additional 282 shares during the period. Spire Wealth Management increased its holdings in International Paper by 2,343.9% during the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company’s stock valued at $86,000 after buying an additional 1,547 shares during the last quarter. Consolidated Planning Corp bought a new position in International Paper in the second quarter worth approximately $317,000. MBB Public Markets I LLC purchased a new position in shares of International Paper during the 1st quarter worth $313,000. Finally, Alliancebernstein L.P. grew its position in shares of International Paper by 47.0% during the 1st quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company’s stock valued at $29,526,000 after acquiring an additional 176,991 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $46.69 on Friday. The stock has a 50-day moving average price of $47.14 and a 200 day moving average price of $47.83. The stock has a market capitalization of $24.65 billion, a P/E ratio of -466.90, a P/E/G ratio of 0.57 and a beta of 1.10. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. Equities research analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper’s payout ratio is -1,850.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Stifel Nicolaus set a $57.80 price objective on International Paper and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. lowered shares of International Paper from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, UBS Group lowered their price target on shares of International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper has a consensus rating of “Hold” and an average target price of $53.85.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

About International Paper

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.