International Paper Co (IP) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in International Paper Co (NYSE:IP) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 674,858 shares of the basic materials company’s stock after selling 3,058 shares during the period. California State Teachers Retirement System’s holdings in International Paper were worth $27,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IP. Foster & Motley Inc. increased its position in International Paper by 1.0% during the 4th quarter. Foster & Motley Inc. now owns 24,959 shares of the basic materials company’s stock valued at $1,007,000 after buying an additional 248 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in International Paper by 1.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,879 shares of the basic materials company’s stock valued at $560,000 after buying an additional 248 shares in the last quarter. Investors Research Corp increased its position in International Paper by 1.4% during the 4th quarter. Investors Research Corp now owns 21,307 shares of the basic materials company’s stock valued at $860,000 after buying an additional 300 shares in the last quarter. WealthTrust Arizona LLC increased its position in International Paper by 40.0% during the 4th quarter. WealthTrust Arizona LLC now owns 1,050 shares of the basic materials company’s stock valued at $42,000 after buying an additional 300 shares in the last quarter. Finally, CWM LLC increased its position in International Paper by 81.2% during the 4th quarter. CWM LLC now owns 743 shares of the basic materials company’s stock valued at $30,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Royal Bank of Canada raised their price objective on International Paper to $54.00 and gave the company an “outperform” rating in a research report on Friday, February 1st. Citigroup reaffirmed a “buy” rating and set a $53.00 price objective on shares of International Paper in a research report on Friday, February 1st. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $50.00 to $60.00 in a research report on Wednesday, January 23rd. Finally, Deutsche Bank reduced their price objective on International Paper from $55.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. International Paper presently has a consensus rating of “Hold” and an average target price of $54.58.

In other news, insider John V. Sims sold 12,667 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $45.96, for a total value of $582,175.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP W. Michael Jr. Amick sold 9,093 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $47.65, for a total value of $433,281.45. The disclosure for this sale can be found here. In the last three months, insiders sold 85,760 shares of company stock valued at $4,016,587. Corporate insiders own 0.32% of the company’s stock.

International Paper stock opened at $46.96 on Friday. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.95 and a beta of 1.57. International Paper Co has a 12 month low of $37.55 and a 12 month high of $59.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.49 and a quick ratio of 1.01.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.04. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.86 billion. International Paper had a return on equity of 30.83% and a net margin of 8.63%. Equities research analysts forecast that International Paper Co will post 5.2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Wednesday, February 20th. International Paper’s payout ratio is 37.59%.

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International Paper Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Further Reading: Stock Symbols Definition, Examples, Lookup

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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