International Paper (NYSE:IP) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board decreased its stake in International Paper (NYSE:IP) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,602 shares of the basic materials company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in International Paper were worth $894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted 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 valued at $160,000 after purchasing an additional 177 shares during the period. AlphaMark Advisors LLC increased its holdings in International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 205 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in International Paper by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after acquiring an additional 212 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 224 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 1.5 %

NYSE IP opened at $56.25 on Tuesday. The company’s fifty day simple moving average is $55.45 and its 200-day simple moving average is $52.34. International Paper has a 52 week low of $33.16 and a 52 week 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. The stock has a market cap of $19.54 billion, a P/E ratio of 35.83 and a beta of 1.02.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities research analysts predict that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. International Paper’s payout ratio is currently 117.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IP shares. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

About International Paper

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.