California Public Employees Retirement System boosted its position in International Paper Company (NYSE:IP) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,118,628 shares of the basic materials company’s stock after purchasing an additional 28,058 shares during the period. California Public Employees Retirement System owned approximately 0.27% of International Paper worth $63,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 acquiring an additional 47 shares during the period. Rational Advisors LLC purchased a new position in shares of International Paper during the third quarter worth approximately $108,000. Ffcm LLC increased its position in shares of International Paper by 148.0% during the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 1,242 shares during the period. Amica Retiree Medical Trust purchased a new position in shares of International Paper during the third quarter worth approximately $128,000. Finally, Krilogy Financial LLC increased its position in shares of International Paper by 9.3% during the second quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 210 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on IP. BMO Capital Markets reaffirmed a “buy” rating and set a $62.00 target price on shares of International Paper in a research report on Friday, November 24th. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Barclays lifted their price objective on shares of International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Monday, October 30th. Finally, Credit Suisse Group lifted their price objective on shares of International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, October 27th. One 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’s stock. International Paper currently has a consensus rating of “Hold” and an average price target of $61.73.

Shares of International Paper Company (NYSE:IP) traded down $0.15 during mid-day trading on Thursday, reaching $56.48. 1,592,300 shares of the company traded hands, compared to its average volume of 2,317,881. The stock has a market capitalization of $23,320.00, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.46. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 2.31. International Paper Company has a 12 month low of $49.60 and a 12 month high of $58.96.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. International Paper’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. analysts anticipate that International Paper Company will post 3.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.36%. This is an increase from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, November 14th. International Paper’s dividend payout ratio (DPR) 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.

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

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