Teachers Retirement System of The State of Kentucky Acquires 14,737 Shares of International Paper Company (NYSE:IP)

Teachers Retirement System of The State of Kentucky grew its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 57.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,471 shares of the basic materials company's stock after acquiring an additional 14,737 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in International Paper were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in International Paper by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock valued at $2,561,651,000 after buying an additional 368,648 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after acquiring an additional 340,383 shares in the last quarter. Capital Research Global Investors increased its holdings in International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after buying an additional 12,191,361 shares during the period. FMR LLC raised its position in shares of International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 19.4% in the 1st 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 buying an additional 2,782,042 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company's stock.

International Paper Stock Up 1.5%

Shares of NYSE:IP traded up $0.79 on Thursday, reaching $54.89. The company had a trading volume of 6,130,561 shares, compared to its average volume of 3,620,059. The stock has a 50-day moving average price of $48.88 and a 200 day moving average price of $50.92. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $28.98 billion, a P/E ratio of 46.91, a P/E/G ratio of 0.49 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last posted 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 firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The business's quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. On average, equities analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio is currently 158.12%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. UBS Group assumed coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 target price (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, International Paper presently has a consensus rating of "Hold" and an average target price of $55.65.

International Paper Company 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.