International Paper (NYSE:IP) Stock Holdings Reduced by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in International Paper (NYSE:IP - Free Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,630 shares of the basic materials company's stock after selling 34,374 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of International Paper worth $24,243,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Exchange Traded Concepts LLC lifted its stake in shares of International Paper by 421.1% during the third quarter. Exchange Traded Concepts LLC now owns 9,963 shares of the basic materials company's stock valued at $353,000 after buying an additional 8,051 shares during the period. Czech National Bank lifted its holdings in shares of International Paper by 47.2% during the 3rd quarter. Czech National Bank now owns 60,474 shares of the basic materials company's stock worth $2,145,000 after acquiring an additional 19,389 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of International Paper by 9.8% in the third quarter. Valeo Financial Advisors LLC now owns 22,018 shares of the basic materials company's stock worth $781,000 after acquiring an additional 1,971 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in International Paper by 21.1% in the third quarter. Commonwealth Equity Services LLC now owns 305,665 shares of the basic materials company's stock valued at $10,842,000 after purchasing an additional 53,196 shares during the period. Finally, Accurate Wealth Management LLC grew its holdings in International Paper by 31.0% in the third quarter. Accurate Wealth Management LLC now owns 16,628 shares of the basic materials company's stock valued at $590,000 after purchasing an additional 3,938 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, February 2nd. Argus downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research report on Sunday, January 14th. Finally, Citigroup upgraded International Paper from a "neutral" rating to a "buy" rating and increased their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, International Paper has a consensus rating of "Hold" and an average target price of $37.13.

International Paper Stock Up 4.5 %

NYSE IP traded up $1.51 during mid-day trading on Monday, reaching $35.34. 8,569,813 shares of the company's stock traded hands, compared to its average volume of 5,040,379. The company has a fifty day simple moving average of $36.64 and a 200-day simple moving average of $35.81. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 69.04 and a beta of 0.99. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, equities research analysts expect that International Paper will post 1.9 EPS for the current year.

Insiders Place Their Bets

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares of the company's stock, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 8,800 shares of company stock valued at $310,438 in the last ninety days. Corporate insiders own 0.55% of the company's stock.

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.