International Paper (NYSE:IP) Shares Sold by Public Employees Retirement Association of Colorado

Posted by Defense World Staff on Jun 11th, 2023

Public Employees Retirement Association of Colorado lowered its holdings in International Paper (NYSE:IP – Get Rating) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,744 shares of the basic materials company’s stock after selling 1,542 shares during the period. Public Employees Retirement Association of Colorado’s holdings in International Paper were worth $1,480,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IP. Delta Asset Management LLC TN acquired a new stake in shares of International Paper in the fourth quarter worth $27,000. Dupont Capital Management Corp increased its position in shares of International Paper by 133.4% in the fourth quarter. Dupont Capital Management Corp now owns 803 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 459 shares in the last quarter. Desjardins Global Asset Management Inc. increased its position in shares of International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 211 shares in the last quarter. Glassman Wealth Services grew its holdings in International Paper by 38.0% during the 4th quarter. Glassman Wealth Services now owns 1,016 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 280 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its holdings in International Paper by 576.5% during the 4th quarter. Kistler Tiffany Companies LLC now owns 1,035 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 882 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

International Paper Trading Down 0.2 %

NYSE IP opened at $31.68 on Friday. International Paper has a one year low of $29.00 and a one year high of $45.43. The company has a 50-day simple moving average of $33.15 and a 200-day simple moving average of $35.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55. The firm has a market capitalization of $10.99 billion, a PE ratio of 8.78 and a beta of 1.04.

International Paper (NYSE:IP – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. International Paper had a net margin of 6.28% and a return on equity of 14.87%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the business posted $0.76 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that International Paper will post 2.35 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Thursday, May 25th. International Paper’s payout ratio is 51.25%.

Analyst Ratings Changes

IP has been the subject of a number of recent analyst reports. Royal Bank of Canada raised shares of International Paper from a “sector perform” rating to an “outperform” rating and lowered their price target for the company from $40.00 to $39.00 in a report on Friday, April 28th. They noted that the move was a valuation call. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Thursday. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of International Paper in a report on Friday, April 28th. 51job reaffirmed a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Finally, 58.com reaffirmed a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.55.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 1,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $35.35, for a total value of $60,271.75. Following the completion of the sale, the senior vice president now directly owns 1,671 shares of the company’s stock, valued at approximately $59,069.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Mark S. Sutton sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $34.58, for a total transaction of $2,939,300.00. Following the sale, the chief executive officer now owns 143,000 shares in the company, valued at $4,944,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph R. Saab sold 1,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $35.35, for a total transaction of $60,271.75. Following the sale, the senior vice president now owns 1,671 shares in the company, valued at approximately $59,069.85. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

International Paper Company Profile

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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 is involved in manufacturing 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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