State of Alaska Department of Revenue Acquires 22,140 Shares of International Paper Company (NYSE:IP)

State of Alaska Department of Revenue raised its position in shares of International Paper Company (NYSE:IP - Free Report) by 55.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,778 shares of the basic materials company's stock after acquiring an additional 22,140 shares during the period. State of Alaska Department of Revenue's holdings in International Paper were worth $3,295,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IP. Price T Rowe Associates Inc. MD raised its position in shares of 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 during the last quarter. Vanguard Group Inc. increased its holdings in shares of International Paper by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after buying an additional 340,383 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after buying an additional 12,191,361 shares in the last quarter. FMR LLC increased its holdings in shares of International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after buying an additional 8,720,575 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 valued at $450,586,000 after purchasing an additional 24,816 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

NYSE IP opened at $45.93 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $24.25 billion, a P/E ratio of 39.26, a P/E/G ratio of 0.42 and a beta of 1.04. International Paper Company has a 12-month low of $41.50 and a 12-month high of $60.36. The firm has a 50-day moving average price of $47.05 and a two-hundred day moving average price of $51.62.

International Paper (NYSE:IP - Get Free Report) last issued its 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). The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. International Paper's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper's payout ratio is 158.12%.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the 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 transaction, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. This 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 can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IP. UBS Group began coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Wells Fargo & Company reiterated an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued 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, the stock has an average rating of "Hold" and an average target price of $54.54.

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.

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