Oregon Public Employees Retirement Fund Has $2.42 Million Holdings in International Paper Company (NYSE:IP)

Oregon Public Employees Retirement Fund lifted its holdings in International Paper Company (NYSE:IP - Free Report) by 52.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,344 shares of the basic materials company's stock after acquiring an additional 15,520 shares during the period. Oregon Public Employees Retirement Fund's holdings in International Paper were worth $2,419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in shares of International Paper in the first quarter valued at about $3,888,000. First Horizon Advisors Inc. grew its stake in International Paper by 65.4% during the first quarter. First Horizon Advisors Inc. now owns 5,248 shares of the basic materials company's stock worth $280,000 after buying an additional 2,075 shares in the last quarter. Private Trust Co. NA grew its stake in International Paper by 16.3% during the first quarter. Private Trust Co. NA now owns 5,124 shares of the basic materials company's stock worth $273,000 after buying an additional 719 shares in the last quarter. Rossby Financial LCC acquired a new stake in International Paper during the first quarter worth about $77,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in International Paper by 48.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 63,807 shares of the basic materials company's stock worth $3,404,000 after buying an additional 20,737 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IP shares. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $54.54.

International Paper Trading Up 1.6%

NYSE IP traded up $0.81 during trading hours on Tuesday, reaching $50.68. The company's stock had a trading volume of 3,880,968 shares, compared to its average volume of 3,125,859. The firm has a fifty day simple moving average of $47.44 and a 200-day simple moving average of $51.06. The stock has a market cap of $26.75 billion, a P/E ratio of 43.32, a P/E/G ratio of 0.46 and a beta of 1.02. International Paper Company has a 52 week low of $42.26 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96.

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

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors 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 3.65%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Insider Transactions at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

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.