International Paper Co (IP) Holdings Trimmed by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in International Paper Co (NYSE:IP) by 10.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,888 shares of the basic materials company’s stock after selling 4,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in International Paper were worth $1,960,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of International Paper by 0.5% in the 2nd quarter. BlackRock Inc. now owns 36,790,627 shares of the basic materials company’s stock worth $1,916,056,000 after acquiring an additional 201,122 shares during the last quarter. LSV Asset Management lifted its holdings in International Paper by 10.3% during the 3rd quarter. LSV Asset Management now owns 4,723,998 shares of the basic materials company’s stock worth $232,184,000 after buying an additional 439,685 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in International Paper by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,715,616 shares of the basic materials company’s stock worth $141,430,000 after buying an additional 73,282 shares in the last quarter. Levin Capital Strategies L.P. lifted its holdings in International Paper by 25.9% during the 3rd quarter. Levin Capital Strategies L.P. now owns 2,351,655 shares of the basic materials company’s stock worth $115,584,000 after buying an additional 484,156 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in International Paper by 16.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,921,940 shares of the basic materials company’s stock worth $100,100,000 after buying an additional 269,329 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Shares of NYSE:IP opened at $44.91 on Monday. International Paper Co has a 52 week low of $39.60 and a 52 week high of $66.94. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.89 and a beta of 1.53.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.09. International Paper had a net margin of 13.68% and a return on equity of 29.75%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.90 billion. On average, research analysts forecast that International Paper Co will post 5.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This is an increase from International Paper’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.45%. International Paper’s dividend payout ratio is currently 57.31%.

International Paper declared that its board has approved a share buyback plan on Tuesday, October 9th that authorizes the company to repurchase $430.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on IP shares. Barclays reduced their target price on shares of International Paper from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Monday, July 30th. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Wednesday, August 1st. Stephens set a $57.00 target price on shares of International Paper and gave the stock a “hold” rating in a report on Tuesday, September 11th. ValuEngine lowered shares of International Paper from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 3rd. Finally, BMO Capital Markets lowered shares of International Paper from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $66.00 to $51.00 in a report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.07.

In other International Paper news, SVP John V. Sims sold 4,725 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total value of $256,803.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeanmichel Ribieras sold 10,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $54.20, for a total transaction of $542,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,725 shares of company stock worth $1,691,814. Insiders own 0.32% of the company’s stock.

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About International Paper

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.

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

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