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

Teacher Retirement System of Texas bought a new position in shares of International Paper Company (NYSE:IP - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 72,882 shares of the basic materials company's stock, valued at approximately $3,888,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in International Paper by 0.8% in 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 period. Vanguard Group Inc. lifted its holdings in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Capital Research Global Investors grew its stake in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after acquiring an additional 12,191,361 shares in the last quarter. FMR LLC grew its holdings in shares of International Paper by 48.9% in the fourth 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 raised its stake in shares of International Paper by 0.3% during the 4th 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 during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

International Paper stock traded up $0.84 during midday trading on Wednesday, reaching $51.44. 4,364,563 shares of the stock were exchanged, compared to its average volume of 6,883,658. 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 quick ratio of 0.96 and a current ratio of 1.33. The firm has a market cap of $27.16 billion, a PE ratio of 43.97, a PEG ratio of 0.46 and a beta of 1.02. The company's fifty day moving average is $47.44 and its 200-day moving average is $51.06.

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). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. On average, sell-side analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.60%. International Paper's payout ratio is presently 158.12%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. UBS Group initiated coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. initiated 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. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. 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 company. According to MarketBeat, International Paper currently has a consensus rating of "Hold" and a consensus price target 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.