Teachers Retirement System of The State of Kentucky Decreases Holdings in International Paper (NYSE:IP)

Teachers Retirement System of The State of Kentucky reduced its stake in International Paper (NYSE:IP) by 6.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,214 shares of the basic materials company’s stock after selling 2,075 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in International Paper were worth $1,092,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares during the period. Greenhaven Associates Inc. lifted its stake in International Paper by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after purchasing an additional 25,640 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in International Paper by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after purchasing an additional 35,930 shares during the period. Northern Trust Corp increased its position in International Paper by 4.4% in the third quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock worth $128,246,000 after buying an additional 151,084 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after buying an additional 777,273 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 1.0 %

Shares of NYSE:IP opened at $46.08 on Monday. The firm has a fifty day moving average price of $40.79 and a two-hundred day moving average price of $38.10. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 94.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. International Paper has a one year low of $30.23 and a one year high of $46.77.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts anticipate that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the transaction, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 3,600 shares of company stock worth $144,744. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price objective on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Wells Fargo & Company boosted their target price on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.71.

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.