International Paper Co (IP) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas cut its stake in International Paper Co (NYSE:IP) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,000 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Employees Retirement System of Texas’ holdings in International Paper were worth $5,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of International Paper by 16.7% in the third quarter. Oppenheimer & Co. Inc. now owns 59,568 shares of the basic materials company’s stock worth $3,385,000 after acquiring an additional 8,505 shares during the period. Fox Run Management L.L.C. grew its stake in shares of International Paper by 22.1% in the third quarter. Fox Run Management L.L.C. now owns 17,100 shares of the basic materials company’s stock worth $972,000 after acquiring an additional 3,100 shares during the period. Sawyer & Company Inc bought a new stake in shares of International Paper in the fourth quarter worth approximately $1,493,000. Parametric Portfolio Associates LLC grew its stake in shares of International Paper by 0.8% in the third quarter. Parametric Portfolio Associates LLC now owns 1,888,438 shares of the basic materials company’s stock worth $107,301,000 after acquiring an additional 14,298 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of International Paper by 0.3% in the third quarter. Retirement Systems of Alabama now owns 757,467 shares of the basic materials company’s stock worth $43,039,000 after acquiring an additional 1,898 shares during the period. Hedge funds and other institutional investors own 80.61% of the company’s stock.

International Paper Co (NYSE IP) opened at $58.31 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.62 and a debt-to-equity ratio of 1.75. The stock has a market cap of $24,115.01, a P/E ratio of 16.22, a P/E/G ratio of 1.28 and a beta of 1.49. International Paper Co has a 1-year low of $49.60 and a 1-year high of $66.94.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $6.01 billion. International Paper had a net margin of 9.36% and a return on equity of 29.53%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. analysts expect that International Paper Co will post 4.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s payout ratio is 36.97%.

IP has been the subject of a number of research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 price target on shares of International Paper in a research note on Thursday, January 25th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Tuesday, January 2nd. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Tuesday, January 2nd. Finally, DA Davidson lifted their price target on shares of International Paper to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.00.

COPYRIGHT VIOLATION NOTICE: “International Paper Co (IP) Shares Sold by Employees Retirement System of Texas” was posted by Week Herald and is owned by of Week Herald. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://weekherald.com/2018/02/23/international-paper-co-ip-shares-sold-by-employees-retirement-system-of-texas.html.

International Paper Company Profile

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Co (NYSE:IP).

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

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply