California State Teachers Retirement System Sells 21,290 Shares of International Paper (NYSE:IP)

California State Teachers Retirement System lessened its holdings in shares of International Paper (NYSE:IP - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 394,111 shares of the basic materials company's stock after selling 21,290 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of International Paper worth $21,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IP. SPC Financial Inc. boosted its stake in shares of International Paper by 1.4% in the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. Inspire Advisors LLC lifted its stake in International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock valued at $665,000 after acquiring an additional 204 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of 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 worth $820,000 after purchasing an additional 212 shares during the period. Picton Mahoney Asset Management raised its holdings in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after purchasing an additional 215 shares during the period. Finally, Summit Financial LLC raised its stake in shares of International Paper by 4.3% in the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock valued at $293,000 after buying an additional 224 shares during the period. 81.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

IP has been the topic of several analyst reports. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $53.86.

International Paper Stock Performance

Shares of NYSE:IP traded up $0.20 during midday trading on Tuesday, hitting $47.40. The company's stock had a trading volume of 1,093,913 shares, compared to its average volume of 7,617,558. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock's 50 day simple moving average is $47.83 and its 200 day simple moving average is $52.73. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. As a group, research analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% 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.