International Paper (NYSE:IP) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of International Paper (NYSE:IP) by 4.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 670,630 shares of the basic materials company’s stock after selling 34,374 shares during the period. California Public Employees Retirement System’s holdings in International Paper were worth $24,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. lifted its stake in International Paper by 0.3% in the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after buying an additional 25,640 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after purchasing an additional 1,011,315 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in International Paper in the 3rd quarter worth approximately $144,509,000. Northern Trust Corp lifted its stake in International Paper by 4.4% in the 3rd quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock worth $128,246,000 after purchasing an additional 151,084 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after purchasing an additional 777,273 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IP. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their price target for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Finally, Wells Fargo & Company cut their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.13.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 8,800 shares of company stock valued at $310,438 in the last 90 days. Company insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.9 %

International Paper stock opened at $33.83 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.19 and a current ratio of 1.68. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The company has a market capitalization of $11.75 billion, a PE ratio of 69.04 and a beta of 0.99. The firm has a 50 day moving average price of $36.64 and a 200 day moving average price of $35.81.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the prior year, the business earned $0.53 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts expect that International Paper will post 1.9 earnings per share for the current year.

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.