Kentucky Retirement Systems Lowers Holdings in International Paper (NYSE:IP)

Kentucky Retirement Systems lessened its position in International Paper (NYSE:IP) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,871 shares of the basic materials company’s stock after selling 329 shares during the period. Kentucky Retirement Systems’ holdings in International Paper were worth $1,285,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Geode Capital Management LLC grew its position in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after purchasing an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. raised its stake in International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Paper by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after buying an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after buying an additional 537,825 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 0.8 %

International Paper stock opened at $55.62 on Monday. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. The firm has a 50 day moving average of $55.59 and a 200 day moving average of $52.74. 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 announced its quarterly earnings data 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%. As a group, research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a yield of 3.33%. International Paper’s dividend payout ratio is presently 117.84%.

Insider Activity

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

Analysts Set New Price Targets

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

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.