Public Employees Retirement Association of Colorado Has $1.53 Million Holdings in International Paper (NYSE:IP)

Public Employees Retirement Association of Colorado decreased its position in International Paper (NYSE:IP) by 6.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,423 shares of the basic materials company’s stock after selling 2,549 shares during the period. Public Employees Retirement Association of Colorado’s holdings in International Paper were worth $1,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Price T Rowe Associates Inc. MD increased its holdings in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the period. Bank of New York Mellon Corp increased its stake in International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after buying an additional 8,132,332 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in International Paper in the 2nd quarter worth approximately $119,012,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of International Paper during the 2nd quarter valued at $81,187,000. Finally, Victory Capital Management Inc. grew its holdings in shares of International Paper by 0.5% during the 2nd quarter. Victory Capital Management Inc. now owns 775,079 shares of the basic materials company’s stock valued at $33,445,000 after acquiring an additional 3,770 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock opened at $48.42 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $47.09 and a 200-day simple moving average of $42.87. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 98.82 and a beta of 1.04. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. On average, sell-side analysts expect that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is currently 377.55%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IP shares. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Royal Bank of Canada raised their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Truist Financial boosted their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company increased their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average price target of $50.21.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the sale, the director now owns 42,802 shares in the company, valued at $1,830,641.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $927,956 over the last three months. 0.55% of the stock is currently owned by insiders.

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.