Kentucky Retirement Systems Sells 329 Shares of International Paper (NYSE:IP)

Kentucky Retirement Systems reduced its position in shares of International Paper (NYSE:IP) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,871 shares of the basic materials company’s stock after selling 329 shares during the quarter. Kentucky Retirement Systems’ holdings in International Paper were worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. FMR LLC increased its position in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the period. Geode Capital Management LLC lifted its position in shares of International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after purchasing an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $174,867,000 after buying an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in International Paper by 19.5% in 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 buying an additional 537,825 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IP. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.88.

International Paper Trading Down 0.8 %

NYSE IP opened at $55.62 on Monday. The stock has a market cap of $19.32 billion, a P/E ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a fifty day simple moving average of $55.59 and a two-hundred day simple moving average of $52.74.

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

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. International Paper’s dividend payout ratio is currently 117.84%.

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.