New York State Common Retirement Fund Sells 11,500 Shares of International Paper (NYSE:IP)

New York State Common Retirement Fund reduced its stake in International Paper (NYSE:IP) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,820 shares of the basic materials company’s stock after selling 11,500 shares during the quarter. New York State Common Retirement Fund’s holdings in International Paper were worth $7,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IP. Private Advisor Group LLC raised its holdings in International Paper by 11.0% in the third quarter. Private Advisor Group LLC now owns 44,725 shares of the basic materials company’s stock worth $2,185,000 after buying an additional 4,420 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of International Paper by 4,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 418,133 shares of the basic materials company’s stock worth $20,426,000 after purchasing an additional 409,485 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of International Paper by 14.2% during the third quarter. Assenagon Asset Management S.A. now owns 17,831 shares of the basic materials company’s stock valued at $871,000 after purchasing an additional 2,218 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of International Paper during the third quarter valued at $224,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in International Paper by 38.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,437 shares of the basic materials company’s stock worth $1,591,000 after buying an additional 9,016 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IP. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday, November 13th. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Truist Financial restated a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Trading Up 0.9 %

Shares of NYSE:IP opened at $55.78 on Thursday. The stock has a 50 day moving average of $55.63 and a 200 day moving average of $52.91. The company has a market cap of $19.38 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. International Paper’s dividend payout ratio (DPR) is 117.83%.

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.