Teacher Retirement System of Texas Makes New $3.89 Million Investment in International Paper Company (NYSE:IP)

Teacher Retirement System of Texas purchased a new position in International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 72,882 shares of the basic materials company's stock, valued at approximately $3,888,000.

Several other large investors have also recently modified their holdings of IP. Picton Mahoney Asset Management raised its position in 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. Bernard Wealth Management Corp. purchased a new position in International Paper in the 4th quarter worth about $37,000. Citizens National Bank Trust Department purchased a new position in International Paper in the 1st quarter worth about $37,000. Transce3nd LLC purchased a new position in International Paper in the 4th quarter worth about $38,000. Finally, Grove Bank & Trust raised its position in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after buying an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer owned 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IP shares. JPMorgan Chase & Co. began 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 began coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target for the company. Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $54.54.

International Paper Price Performance

Shares of IP traded up $0.81 during mid-day trading on Tuesday, hitting $50.68. 3,880,968 shares of the stock were exchanged, compared to its average volume of 6,903,476. The company has a market cap of $26.75 billion, a PE ratio of 43.32, a price-to-earnings-growth 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 firm has a 50-day moving average of $47.38 and a two-hundred day moving average of $51.07. 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 (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The business's quarterly revenue was up 27.8% on a year-over-year basis. On average, equities analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid 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 payout ratio is 158.12%.

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.