International Paper (NYSE:IP) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in International Paper (NYSE:IP - Free Report) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,313 shares of the basic materials company's stock after selling 11,266 shares during the quarter. Public Employees Retirement System of Ohio's holdings in International Paper were worth $7,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in International Paper by 0.8% during the fourth 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. lifted its holdings in shares of International Paper by 0.8% during the 4th 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 lifted its holdings in shares of International Paper by 68.8% during the 4th 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 acquiring an additional 12,191,361 shares in the last quarter. FMR LLC lifted its holdings in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after acquiring an additional 8,720,575 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of International Paper by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after purchasing an additional 24,816 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by company insiders.

International Paper Stock Down 0.4%

NYSE IP traded down $0.21 on Friday, hitting $47.74. 6,991,131 shares of the stock traded hands, compared to its average volume of 7,654,896. The stock has a 50-day moving average of $48.17 and a 200 day moving average of $52.93. International Paper has a twelve month low of $41.50 and a twelve month high of $60.36. The company has a market capitalization of $25.20 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The business 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 4.75% and a net margin of 2.99%. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period last year, the company posted $0.17 earnings per share. As a group, analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.88%. International Paper's dividend payout ratio (DPR) is 158.12%.

Wall Street Analyst Weigh In

A number of brokerages have commented on IP. Wall Street Zen cut International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They set a "neutral" rating on the stock. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday. Finally, Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $53.86.

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.