Louisiana State Employees Retirement System Buys 9,700 Shares of International Paper Company (NYSE:IP)

Louisiana State Employees Retirement System lifted its holdings in International Paper Company (NYSE:IP - Free Report) by 51.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,400 shares of the basic materials company's stock after purchasing an additional 9,700 shares during the quarter. Louisiana State Employees Retirement System's holdings in International Paper were worth $1,515,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IP. Bernard Wealth Management Corp. bought a new stake in shares of International Paper in the fourth quarter worth $37,000. Citizens National Bank Trust Department bought a new stake in shares of International Paper in the first quarter worth $37,000. Transce3nd LLC bought a new stake in International Paper during the fourth quarter worth $38,000. Grove Bank & Trust raised its position in International Paper by 472.0% during the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after acquiring an additional 623 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in International Paper during the first quarter worth $42,000. Institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on IP. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.65.

International Paper Stock Performance

Shares of IP stock traded down $0.51 on Friday, hitting $50.40. The company's stock had a trading volume of 2,959,556 shares, compared to its average volume of 6,720,488. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The stock's 50 day moving average is $48.42 and its 200-day moving average is $50.95. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The company has a market capitalization of $26.61 billion, a PE ratio of 43.08, a PEG ratio of 0.47 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last released its quarterly 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 net margin of 1.99% and a return on equity of 4.05%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the company posted $0.17 earnings per share. The company's revenue was up 27.8% on a year-over-year basis. Equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were paid a $0.4625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.67%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer directly owned 31,525 shares in the company, 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 at the SEC website. Company 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.