Kentucky Retirement Systems Insurance Trust Fund Has $770,000 Holdings in International Paper (NYSE:IP)

Kentucky Retirement Systems Insurance Trust Fund grew its position in International Paper (NYSE:IP - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,710 shares of the basic materials company's stock after purchasing an additional 5,425 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in International Paper were worth $770,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IP. Exchange Traded Concepts LLC raised its holdings in International Paper by 677.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company's stock worth $76,000 after purchasing an additional 1,355 shares during the period. Creative Planning raised its holdings in shares of International Paper by 6.6% during the third quarter. Creative Planning now owns 72,925 shares of the basic materials company's stock worth $3,562,000 after acquiring an additional 4,500 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of International Paper by 90.4% during the third quarter. Vontobel Holding Ltd. now owns 10,969 shares of the basic materials company's stock worth $536,000 after acquiring an additional 5,207 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of International Paper by 15.6% during the third quarter. Bleakley Financial Group LLC now owns 5,402 shares of the basic materials company's stock worth $264,000 after acquiring an additional 731 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of International Paper by 20.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,355 shares of the basic materials company's stock worth $2,069,000 after acquiring an additional 7,201 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction dated 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. This represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on IP. Truist Financial restated a "buy" rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. BNP Paribas lowered shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. One equities research 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. According to MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and an average price target of $51.88.

International Paper Stock Performance

Shares of International Paper stock traded down $0.44 during trading on Friday, hitting $55.62. 5,734,735 shares of the stock were exchanged, compared to its average volume of 11,720,951. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a fifty day moving average price of $55.59 and a 200-day moving average price of $52.55. International Paper has a 1-year low of $33.16 and a 1-year 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 - Get Free Report) last released its quarterly earnings data 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 analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. 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 (DPR) is currently 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.