Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stock Position in International Paper (NYSE:IP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in International Paper (NYSE:IP) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,869 shares of the basic materials company’s stock after selling 1,750 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in International Paper were worth $3,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of IP. Pathstone Holdings LLC raised its stake in shares of International Paper by 2.1% during the third quarter. Pathstone Holdings LLC now owns 55,009 shares of the basic materials company’s stock worth $2,687,000 after acquiring an additional 1,130 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of International Paper during the third quarter worth approximately $1,006,000. First Horizon Advisors Inc. raised its stake in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 177 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after acquiring an additional 537,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on IP shares. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday. They set an “overweight” rating and a $59.00 price target on the stock. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Performance

NYSE:IP opened at $51.29 on Monday. The stock has a market cap of $26.99 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The firm’s fifty day simple moving average is $54.96 and its 200 day simple moving average is $53.50. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

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.