New York State Teachers Retirement System Sells 4,262 Shares of International Paper Company $IP

New York State Teachers Retirement System lessened its holdings in International Paper Company (NYSE:IP) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 330,630 shares of the basic materials company’s stock after selling 4,262 shares during the period. New York State Teachers Retirement System’s holdings in International Paper were worth $15,483,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of IP. Vanguard Group Inc. raised its position in shares of International Paper by 52.0% during the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after buying an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in International Paper by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after acquiring an additional 4,201,422 shares during the last quarter. Bank of New York Mellon Corp raised its position in International Paper by 19.4% during the first quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company’s stock valued at $914,712,000 after purchasing an additional 2,782,042 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of International Paper by 21.4% in the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock valued at $481,203,000 after purchasing an additional 1,590,137 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of International Paper by 1.1% in the 1st quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock worth $428,941,000 after purchasing an additional 85,732 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 0.1%

Shares of IP opened at $46.69 on Friday. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of -466.90, a PEG ratio of 0.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a 50-day moving average of $47.14 and a 200 day moving average of $47.83.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business’s revenue was up 42.9% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. On average, research analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper’s dividend payout ratio is -1,850.00%.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. UBS Group lowered their target price on shares of International Paper from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, October 6th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. BNP Paribas Exane reduced their price objective on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research report on Wednesday, October 8th. Finally, Seaport Res Ptn lowered International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.85.

International Paper 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.