California Public Employees Retirement System Acquires 123,127 Shares of International Paper Company $IP

California Public Employees Retirement System lifted its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,401 shares of the basic materials company's stock after buying an additional 123,127 shares during the period. California Public Employees Retirement System owned approximately 0.16% of International Paper worth $29,752,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. McIlrath & Eck LLC lifted its stake in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 525 shares during the period. MV Capital Management Inc. bought a new stake in shares of International Paper in the fourth quarter worth approximately $25,000. Ascentis Independent Advisors bought a new stake in shares of International Paper in the first quarter worth approximately $28,000. DV Equities LLC purchased a new position in shares of International Paper during the fourth quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC raised its holdings in shares of International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 344 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on IP. BNP Paribas Exane dropped their target price on shares of International Paper from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. JPMorgan Chase & Co. lifted their target price on shares of International Paper from $43.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Truist Financial boosted their target price on shares of International Paper from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Seaport Research Partners raised International Paper from a "neutral" rating to a "buy" rating and set a $39.00 price target on the stock in a report on Friday, May 1st. Finally, Citigroup raised their price target on International Paper from $36.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.31.

International Paper Price Performance

Shares of NYSE:IP opened at $36.36 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $19.25 billion, a PE ratio of -5.72 and a beta of 0.94. The firm's 50 day moving average price is $35.19 and its 200-day moving average price is $37.98. International Paper Company has a twelve month low of $29.26 and a twelve month high of $56.13.

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

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, August 14th. International Paper's dividend payout ratio (DPR) is currently -29.09%.

Insider Activity

In other International Paper news, Director Scott Tozier acquired 10,000 shares of the business's stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $31.30 per share, with a total value of $313,000.00. Following the transaction, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. The trade was a 40,000.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by insiders.

About International Paper

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.

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