New York State Common Retirement Fund Grows Stake in International Paper Company (IP)

New York State Common Retirement Fund increased its position in shares of International Paper Company (NYSE:IP) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,131,906 shares of the basic materials company’s stock after acquiring an additional 63,146 shares during the quarter. New York State Common Retirement Fund owned approximately 0.27% of International Paper worth $64,315,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in International Paper by 2.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 47 shares during the period. Ffcm LLC raised its position in shares of International Paper by 148.0% during the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of International Paper by 9.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 210 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of International Paper by 188.8% in the 2nd quarter. Advisory Services Network LLC now owns 2,533 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of International Paper by 6.3% in the 2nd quarter. Parallel Advisors LLC now owns 3,632 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

IP has been the subject of several research analyst reports. Jefferies Group reiterated a “buy” rating and set a $66.00 target price on shares of International Paper in a research note on Friday, August 18th. BMO Capital Markets reissued a “buy” rating on shares of International Paper in a report on Thursday, August 17th. Zacks Investment Research lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, October 12th. Finally, Stephens assumed coverage on shares of International Paper in a report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. International Paper currently has an average rating of “Hold” and an average price target of $61.73.

Shares of International Paper Company (IP) traded up $1.25 during trading on Tuesday, hitting $56.88. 2,459,500 shares of the stock were exchanged, compared to its average volume of 2,331,795. The company has a market capitalization of $22,971.20, a PE ratio of 18.18, a PEG ratio of 1.67 and a beta of 1.45. International Paper Company has a 52 week low of $49.60 and a 52 week high of $58.96. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.04. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. International Paper’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. equities analysts anticipate that International Paper Company will post 3.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.475 per share. This is a boost from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is 87.56%.

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About International Paper

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.

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

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