International Paper (NYSE:IP) Shares Acquired by Kentucky Retirement Systems

Kentucky Retirement Systems grew its stake in International Paper (NYSE:IPFree Report) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,685 shares of the basic materials company’s stock after buying an additional 298 shares during the quarter. Kentucky Retirement Systems’ holdings in International Paper were worth $1,001,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IP. Mizuho Markets Americas LLC purchased a new stake in International Paper during the 3rd quarter worth approximately $144,509,000. Acadian Asset Management LLC increased its stake in International Paper by 208.0% during the 3rd quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after buying an additional 1,087,933 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Paper by 13.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after buying an additional 1,011,315 shares in the last quarter. AQR Capital Management LLC increased its stake in International Paper by 35.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after buying an additional 777,273 shares in the last quarter. Finally, Atlas FRM LLC increased its stake in International Paper by 30.0% during the 3rd quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock worth $92,222,000 after buying an additional 600,000 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Up 1.7 %

Shares of NYSE IP opened at $41.87 on Wednesday. The stock has a market cap of $14.54 billion, a P/E ratio of 85.45 and a beta of 1.01. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $29.00 and a 12-month high of $42.82. The business’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $36.35.

International Paper (NYSE:IPGet Free Report) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. As a group, equities analysts predict that International Paper will post 1.85 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company decreased their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Argus cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.57.

Read Our Latest Stock Analysis on IP

Insiders Place Their Bets

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 10,000 shares of company stock valued at $355,348. 0.55% of the stock is currently owned by insiders.

International Paper Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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