Texas Permanent School Fund Corp Has $1.74 Million Holdings in International Paper Company $IP

Texas Permanent School Fund Corp lowered its stake in shares of International Paper Company (NYSE:IP) by 35.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 37,186 shares of the basic materials company’s stock after selling 20,222 shares during the period. Texas Permanent School Fund Corp’s holdings in International Paper were worth $1,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in International Paper by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of International Paper by 9.7% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock worth $108,819,000 after acquiring an additional 205,888 shares during the period. Consolidated Planning Corp purchased a new stake in International Paper in the 2nd quarter worth about $317,000. Whalen Wealth Management Inc. bought a new stake in International Paper in the 2nd quarter valued at about $604,000. Finally, Norges Bank bought a new stake in International Paper in the 2nd quarter valued at about $281,735,000. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IP. Royal Bank Of Canada set a $55.00 target price on shares of International Paper and gave the stock an “outperform” rating in a research report on Thursday. BNP Paribas Exane raised shares of International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Monday, November 24th. Argus reduced their price objective on shares of International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Citigroup reduced their price target on International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.23.

International Paper Stock Performance

NYSE IP opened at $39.28 on Tuesday. The company’s 50 day simple moving average is $40.35 and its two-hundred day simple moving average is $45.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. International Paper Company has a 1 year low of $35.56 and a 1 year high of $60.15. The stock has a market capitalization of $20.74 billion, a PE ratio of -15.05, a P/E/G ratio of 1.20 and a beta of 1.09.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the company posted $0.33 EPS. The company’s revenue for the quarter was up 56.4% compared to the same quarter last year. Analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s dividend payout ratio is currently -70.88%.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.