Kentucky Retirement Systems Acquires 11,862 Shares of International Paper Company (NYSE:IP)

Kentucky Retirement Systems boosted its holdings in International Paper Company (NYSE:IP - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,733 shares of the basic materials company's stock after buying an additional 11,862 shares during the period. Kentucky Retirement Systems' holdings in International Paper were worth $1,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IP. Picton Mahoney Asset Management boosted its holdings in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after buying an additional 295 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the fourth quarter valued at approximately $37,000. Transce3nd LLC bought a new position in International Paper in the 4th quarter valued at $38,000. Finally, Grove Bank & Trust lifted its position in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 623 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

Analysts Set New Price Targets

IP has been the subject of a number of analyst reports. JPMorgan Chase & Co. began coverage on International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective for the company. UBS Group assumed coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Finally, Wall Street Zen lowered International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $54.54.

International Paper Stock Up 1.1%

NYSE:IP traded up $0.53 during trading hours on Tuesday, reaching $46.62. The company had a trading volume of 2,668,666 shares, compared to its average volume of 7,150,701. The business's 50-day simple moving average is $47.02 and its two-hundred day simple moving average is $51.51. International Paper Company has a twelve month low of $41.50 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 firm has a market cap of $24.61 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the business earned $0.17 EPS. International Paper's quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.97%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio is presently 158.12%.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The stock was 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 $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company's stock.

International Paper 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.