Teacher Retirement System of Texas Buys Shares of 72,882 International Paper Company (NYSE:IP)

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

A number of other large investors have also modified their holdings of the business. Picton Mahoney Asset Management raised its stake in shares of International Paper by 67.0% during 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 period. Bernard Wealth Management Corp. purchased a new stake in International Paper in the 4th quarter valued at $37,000. Citizens National Bank Trust Department purchased a new stake in International Paper in the 1st quarter valued at $37,000. Transce3nd LLC purchased a new position in shares of International Paper during the 4th quarter worth $38,000. Finally, Grove Bank & Trust grew its holdings in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction dated 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 directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company's stock.

Analyst Ratings Changes

IP has been the subject of a number of research analyst reports. Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. UBS Group started coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. Finally, Wells Fargo & Company raised their target price on International Paper from $40.00 to $43.00 and gave the stock an "underweight" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $55.65.

International Paper Stock Up 2.6%

IP traded up $1.36 during trading hours on Thursday, reaching $52.72. 1,878,222 shares of the stock traded hands, compared to its average volume of 6,844,457. The firm's fifty day simple moving average is $47.56 and its two-hundred day simple moving average is $51.07. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 45.06, a PEG ratio of 0.47 and a beta of 1.02. International Paper Company has a fifty-two week low of $42.35 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96.

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 analysts' consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion for 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 revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. As a group, analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.51%. International Paper's dividend payout ratio is presently 158.12%.

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.