Louisiana State Employees Retirement System Acquires Shares of 26,900 International Paper Company $IP

Louisiana State Employees Retirement System bought a new position in shares of International Paper Company (NYSE:IPFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,900 shares of the basic materials company’s stock, valued at approximately $960,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of International Paper during the first quarter worth $249,000. Intech Investment Management LLC grew its position in International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after acquiring an additional 16,055 shares during the last quarter. Cresset Asset Management LLC grew its position in International Paper by 20.8% during the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 2,981 shares during the last quarter. Jump Financial LLC increased its holdings in International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock worth $1,784,000 after purchasing an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in International Paper by 8.0% in the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after purchasing an additional 2,493 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Scott Tozier purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the acquisition, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. This represents a 40,000.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

International Paper Trading Down 0.0%

NYSE:IP opened at $38.77 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. International Paper Company has a one year low of $29.26 and a one year high of $56.13. The company has a market cap of $20.53 billion, a PE ratio of -6.10 and a beta of 0.94. The firm has a 50-day moving average of $34.13 and a 200-day moving average of $38.15.

International Paper (NYSE:IPGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. International Paper’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. As a group, equities research analysts expect that International Paper Company will post 1.39 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is currently -29.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup reduced their target price on shares of International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada lowered their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Thursday, April 23rd. BNP Paribas Exane reduced their price objective on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Finally, Seaport Research Partners raised International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

View Our Latest Research Report on IP

International Paper Profile

(Free Report)

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

Further Reading

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IPFree Report).

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

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.