Teachers Retirement System of The State of Kentucky Sells 1,547 Shares of International Paper (NYSE:IP)

Teachers Retirement System of The State of Kentucky decreased its holdings in International Paper (NYSE:IP) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,431 shares of the basic materials company’s stock after selling 1,547 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in International Paper were worth $1,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in International Paper in the third quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new position in International Paper in the third quarter worth about $28,000. Innealta Capital LLC purchased a new stake in shares of International Paper during the second quarter valued at about $26,000. Finally, Eastern Bank purchased a new position in shares of International Paper in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IP shares. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the sale, the director now directly owns 38,945 shares of the company’s stock, valued at $1,872,475.60. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 3,000 shares of company stock valued at $158,904 over the last 90 days. Insiders own 0.55% of the company’s stock.

International Paper Stock Down 1.0 %

International Paper stock opened at $55.24 on Wednesday. The business’s 50-day simple moving average is $54.27 and its two-hundred day simple moving average is $49.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The company has a market cap of $19.19 billion, a PE ratio of 47.21 and a beta of 1.02. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts anticipate that International Paper will post 1.18 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.35%. International Paper’s payout ratio is currently 158.12%.

International Paper Company 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.