Retirement Systems of Alabama Boosts Stake in International Paper Company (NYSE:IP)

Retirement Systems of Alabama grew its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 50.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,302 shares of the basic materials company's stock after acquiring an additional 38,083 shares during the quarter. Retirement Systems of Alabama's holdings in International Paper were worth $6,045,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SPC Financial Inc. raised its holdings in International Paper by 1.4% in the 4th 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 in the last quarter. Inspire Advisors LLC grew its holdings in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after acquiring an additional 204 shares during the period. Picton Mahoney Asset Management raised its position 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 acquiring an additional 215 shares in the last quarter. Summit Financial LLC lifted its stake 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 valued at $293,000 after purchasing an additional 224 shares during the period. Finally, Capital Investment Advisors LLC boosted its position in shares of International Paper by 6.0% during the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 235 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IP. UBS Group began coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price for the company. 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. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, International Paper presently has a consensus rating of "Hold" and an average target price of $54.54.

International Paper Stock Performance

IP stock traded down $0.14 during midday trading on Wednesday, reaching $46.45. The stock had a trading volume of 3,418,351 shares, compared to its average volume of 7,129,878. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a 52-week low of $41.50 and a 52-week high of $60.36. The stock has a market cap of $24.52 billion, a PE ratio of 39.70, a P/E/G ratio of 0.42 and a beta of 1.04. The firm has a fifty day simple moving average of $47.02 and a two-hundred day simple moving average of $51.48.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data 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 company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The business's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, equities research analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, May 23rd. International Paper's payout ratio is presently 158.12%.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by 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.