California State Teachers Retirement System Has $847.51 Million Holdings in International Paper Company $IP

Key Points

• California State Teachers Retirement System increased its International Paper stake by 3,696.7% to 22.24 million shares, valued at approximately $847.5 million, or 4.2% of the company. Institutional investors and hedge funds collectively own 81.95% of the stock.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $49.13. Truist, Wells Fargo, and Citigroup recently raised their price targets, although one analyst downgraded the stock to “Sell.”
• International Paper reported quarterly EPS of $0.04, beating estimates, but revenue fell 11.3% year over year to $6 billion and the company posted a negative net margin. It declared a quarterly dividend of $0.4625 per share, representing a 5.4% annualized yield.

California State Teachers Retirement System increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 3,696.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,244,418 shares of the basic materials company's stock after purchasing an additional 21,658,528 shares during the period. California State Teachers Retirement System owned about 4.20% of International Paper worth $847,512,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital International Investors increased its position in International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company's stock worth $2,498,013,000 after purchasing an additional 14,422,616 shares during the period. Capital Research Global Investors boosted its stake in shares of International Paper by 0.4% in the 4th quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company's stock valued at $2,148,154,000 after purchasing an additional 204,654 shares during the last quarter. BlackRock Inc. bought a new position in shares of International Paper in the 2nd quarter valued at about $1,940,896,000. State Street Corp grew its position in shares of International Paper by 1.3% during the 4th quarter. State Street Corp now owns 30,009,733 shares of the basic materials company's stock worth $1,182,083,000 after buying an additional 397,673 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of International Paper during the second quarter worth approximately $689,498,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP William Hamic sold 24,500 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares of the company's stock, valued at $1,437,046.08. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IP. Truist Financial reiterated a "buy" rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a research report on Friday, July 31st. Weiss Ratings upgraded International Paper from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a report on Tuesday, August 25th. Wells Fargo & Company upped their target price on International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, Citigroup raised their price target on International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.13.

International Paper Stock Up 0.2%

Shares of NYSE IP opened at $34.41 on Monday. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The business's fifty day moving average price is $39.21 and its 200-day moving average price is $36.91. The stock has a market capitalization of $18.22 billion, a PE ratio of -5.28, a P/E/G ratio of 4.32 and a beta of 0.93.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the firm earned $0.20 EPS. International Paper's revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities research analysts anticipate that International Paper Company will post 1.33 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's dividend payout ratio (DPR) is -28.37%.

About International Paper

International Paper Company NYSE: IP is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.

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