California Public Employees Retirement System Sells 41,241 Shares of International Paper (NYSE:IP)

California Public Employees Retirement System lowered its stake in International Paper (NYSE:IP - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 606,665 shares of the basic materials company's stock after selling 41,241 shares during the period. California Public Employees Retirement System owned approximately 0.17% of International Paper worth $32,651,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IP. Sierra Ocean LLC acquired a new stake in International Paper in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the fourth quarter worth $26,000. Legacy Investment Solutions LLC bought a new position in International Paper during the third quarter worth $28,000. Picton Mahoney Asset Management raised its stake in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after purchasing an additional 448 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

IP has been the topic of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned 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 a consensus rating of "Moderate Buy" and a consensus target price of $55.32.

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International Paper Stock Down 2.6 %

Shares of NYSE:IP traded down $1.29 during trading on Friday, hitting $47.89. 8,125,261 shares of the company's stock traded hands, compared to its average volume of 9,480,998. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $54.18 and a 200-day moving average price of $53.82. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last released its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. As a group, research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.86%. International Paper's dividend payout ratio (DPR) is presently 117.83%.

About International Paper

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.