Teachers Retirement System of The State of Kentucky Sells 1,547 Shares of International Paper (NYSE:IP)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of International Paper (NYSE:IP) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 26,431 shares of the basic materials company’s stock after selling 1,547 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in International Paper were worth $1,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IP. Brooklyn Investment Group bought a new stake in shares of International Paper during the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new stake in International Paper during the second quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the third quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper in the third quarter worth about $28,000. Finally, Eastern Bank purchased a new stake in shares of International Paper during the third quarter worth about $40,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

IP has been the topic of several research analyst reports. Truist Financial reissued a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, BNP Paribas lowered 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s 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 completion of the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 3,000 shares of company stock valued at $158,904. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.0 %

IP opened at $55.24 on Wednesday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $54.27 and a 200 day moving average of $49.17. The firm has a market cap of $19.19 billion, a P/E ratio of 47.21 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, research analysts forecast that International Paper will post 1.18 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.35%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.