State of Tennessee Treasury Department lessened its holdings in shares of International Paper Co (NYSE:IP) by 1.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,191 shares of the basic materials company’s stock after selling 1,225 shares during the quarter. State of Tennessee Treasury Department’s holdings in International Paper were worth $2,870,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in International Paper in the fourth quarter valued at approximately $187,122,000. Prudential PLC grew its position in International Paper by 19,224.1% in the first quarter. Prudential PLC now owns 2,036,370 shares of the basic materials company’s stock valued at $63,392,000 after acquiring an additional 2,025,832 shares in the last quarter. Levin Easterly Partners LLC acquired a new stake in International Paper in the first quarter valued at approximately $27,136,000. Captrust Financial Advisors grew its position in International Paper by 8,219.9% in the fourth quarter. Captrust Financial Advisors now owns 720,756 shares of the basic materials company’s stock valued at $32,809,000 after acquiring an additional 712,093 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in International Paper by 257.2% in the fourth quarter. Panagora Asset Management Inc. now owns 839,488 shares of the basic materials company’s stock valued at $38,658,000 after acquiring an additional 604,449 shares in the last quarter. 81.12% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. ValuEngine cut International Paper from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. KeyCorp reduced their target price on International Paper from $38.00 to $29.00 and set an “underweight” rating for the company in a research note on Thursday, April 9th. They noted that the move was a valuation call. Cfra reduced their price objective on International Paper from $45.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research note on Wednesday, May 27th. Finally, Morgan Stanley began coverage on International Paper in a research note on Monday, June 15th. They set an “underweight” rating and a $29.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.08.

IP stock opened at $33.80 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.56 and a current ratio of 0.77. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 8.67 and a beta of 1.34. International Paper Co has a 1 year low of $26.38 and a 1 year high of $47.64. The stock’s fifty day moving average is $34.51 and its two-hundred day moving average is $37.68.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.32 billion. International Paper had a return on equity of 20.98% and a net margin of 2.99%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.11 earnings per share. As a group, analysts predict that International Paper Co will post 1.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date of this dividend was Tuesday, May 26th. International Paper’s dividend payout ratio (DPR) is 46.28%.

International Paper Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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