Public Employees Retirement System of Ohio Has $6.92 Million Stock Position in International Paper (NYSE:IP)

Public Employees Retirement System of Ohio decreased its position in shares of International Paper (NYSE:IP - Free Report) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,579 shares of the basic materials company's stock after selling 9,876 shares during the period. Public Employees Retirement System of Ohio's holdings in International Paper were worth $6,916,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IP. First Horizon Advisors Inc. increased its stake in shares of International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company's stock worth $160,000 after buying an additional 177 shares during the last quarter. Empirical Finance LLC raised its stake in shares of International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company's stock valued at $599,000 after purchasing an additional 224 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company's stock worth $68,000 after purchasing an additional 239 shares during the last quarter. Retirement Systems of Alabama grew its stake in International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company's stock worth $3,306,000 after purchasing an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc increased its holdings in International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company's stock valued at $4,854,000 after buying an additional 296 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Performance

Shares of International Paper stock traded up $0.68 during trading on Friday, hitting $55.54. 3,254,901 shares of the stock were exchanged, compared to its average volume of 5,211,820. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The stock's fifty day moving average is $53.95 and its 200 day moving average is $48.96. The stock has a market cap of $19.30 billion, a PE ratio of 47.47 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during 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 for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.18 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the completion of the sale, the director now directly owns 39,545 shares of the company's stock, valued at $1,925,050.60. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 3,600 shares of company stock valued at $188,592. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on IP. Truist Financial reaffirmed a "buy" rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper presently has an average rating of "Moderate Buy" and a consensus price target of $51.54.

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.