New York State Teachers Retirement System Increases Stake in International Paper (NYSE:IP)

New York State Teachers Retirement System boosted its holdings in shares of International Paper (NYSE:IP - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,642 shares of the basic materials company's stock after acquiring an additional 13,395 shares during the period. New York State Teachers Retirement System owned about 0.09% of International Paper worth $15,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in International Paper by 35.1% during the first 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company's stock worth $613,367,000 after purchasing an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in International Paper in the second quarter worth $119,012,000. Samlyn Capital LLC acquired a new position in shares of International Paper during the second quarter worth $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of International Paper during the 2nd quarter valued at $81,187,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

IP has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday. Stifel Nicolaus began coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a "hold" rating and a $48.70 target price on the stock. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. Truist Financial reiterated a "buy" rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday. Finally, Argus raised International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Three equities 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 MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and an average price target of $51.96.

International Paper Price Performance

Shares of International Paper stock traded up $0.23 on Friday, hitting $55.77. The company's stock had a trading volume of 10,454,784 shares, compared to its average volume of 5,205,665. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 47.67 and a beta of 1.02. International Paper has a 1 year low of $31.76 and a 1 year high of $56.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.53. The firm has a fifty day moving average price of $48.48 and a 200-day moving average price of $45.06.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.54 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now directly owns 41,002 shares of the company's stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the transaction, the director now owns 41,002 shares of the company's stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $938,486 over the last quarter. 0.55% of the stock is currently owned by insiders.

International Paper Company 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.