New York State Teachers Retirement System Has $16.63 Million Stake in International Paper (NYSE:IP)

New York State Teachers Retirement System boosted its position in shares of International Paper (NYSE:IP) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,023 shares of the basic materials company’s stock after buying an additional 381 shares during the period. New York State Teachers Retirement System’s holdings in International Paper were worth $16,632,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IP. FMR LLC grew its stake in International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. grew its stake in International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in International Paper during the third quarter worth about $84,526,000. Finally, Artemis Investment Management LLP lifted its holdings in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America assumed coverage on shares of International Paper in a report on Thursday. They issued a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Up 1.5 %

Shares of NYSE IP opened at $56.25 on Monday. The company has a 50 day simple moving average of $55.45 and a 200 day simple moving average of $52.30. The firm has a market cap of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, research analysts forecast that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

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.