California Public Employees Retirement System Trims Holdings in International Paper (NYSE:IP)

California Public Employees Retirement System lowered its stake in shares of International Paper (NYSE:IP) by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 606,665 shares of the basic materials company’s stock after selling 41,241 shares during the period. California Public Employees Retirement System’s holdings in International Paper were worth $32,651,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SPC Financial Inc. boosted its position in shares of International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after buying an additional 200 shares during the period. AlphaMark Advisors LLC boosted its holdings in International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares during the period. Inspire Advisors LLC grew its position in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

IP stock opened at $54.51 on Thursday. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week 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. The business has a 50 day moving average price of $54.62 and a 200 day moving average price of $53.84.

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 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%. Equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price for the company. Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

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.