California State Teachers Retirement System Has $38.72 Million Holdings in International Paper Company (IP)

California State Teachers Retirement System lowered its stake in shares of International Paper Company (NYSE:IP) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 681,514 shares of the basic materials company’s stock after selling 55,915 shares during the period. California State Teachers Retirement System owned 0.17% of International Paper worth $38,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Exencial Wealth Advisors LLC increased its position in shares of International Paper by 0.3% during the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 16 shares in the last quarter. Piedmont Investment Advisors LLC increased its position in shares of International Paper by 0.5% during the second quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock worth $245,000 after purchasing an additional 20 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of International Paper by 2.4% during the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 47 shares in the last quarter. Veritable L.P. increased its position in shares of International Paper by 0.4% during the second quarter. Veritable L.P. now owns 14,704 shares of the basic materials company’s stock worth $832,000 after purchasing an additional 58 shares in the last quarter. Finally, Financial Advisors Network Inc. increased its position in shares of International Paper by 1.2% during the second quarter. Financial Advisors Network Inc. now owns 6,632 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Stephens began coverage on International Paper in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of International Paper in a research report on Monday, October 23rd. Credit Suisse Group upped their target price on International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Barclays upped their target price on International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. Finally, KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.73.

International Paper Company (NYSE:IP) opened at $56.25 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.48 and a quick ratio of 0.97. International Paper Company has a 12-month low of $49.60 and a 12-month high of $58.96. The stock has a market capitalization of $22,785.38, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.66 and a beta of 1.45.

International Paper (NYSE:IP) last released its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $5.91 billion for 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%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. research analysts predict that International Paper Company will post 3.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were given a dividend of $0.475 per share. This is an increase from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Tuesday, November 14th. International Paper’s dividend payout ratio (DPR) is currently 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.

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

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