New York State Teachers Retirement System Purchases 25,869 Shares of International Paper Company (NYSE:IP)

New York State Teachers Retirement System grew its stake in shares of International Paper Company (NYSE:IP - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,892 shares of the basic materials company's stock after buying an additional 25,869 shares during the period. New York State Teachers Retirement System owned 0.06% of International Paper worth $17,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SPC Financial Inc. increased its position in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after purchasing an additional 200 shares during the last quarter. Inspire Advisors LLC grew its stake in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after buying an additional 204 shares in the last quarter. Picton Mahoney Asset Management increased 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 buying an additional 215 shares during the last quarter. Summit Financial LLC increased its holdings in shares of International Paper by 4.3% in the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock worth $293,000 after buying an additional 224 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after acquiring an additional 231 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research analyst reports. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. UBS Group initiated coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $54.54.

International Paper Trading Up 0.1%

Shares of NYSE:IP traded up $0.04 on Thursday, hitting $50.43. The company had a trading volume of 2,049,934 shares, compared to its average volume of 6,959,833. The firm's 50-day simple moving average is $47.21 and its two-hundred day simple moving average is $51.21. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 43.10, a P/E/G ratio of 0.45 and a beta of 1.02. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. International Paper Company has a 1 year low of $42.26 and a 1 year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.38 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business's quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

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

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on 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 owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.