State of New Jersey Common Pension Fund D Sells 4,750 Shares of International Paper (NYSE:IP)

State of New Jersey Common Pension Fund D trimmed its position in shares of International Paper (NYSE:IPFree Report) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,626 shares of the basic materials company’s stock after selling 4,750 shares during the period. State of New Jersey Common Pension Fund D’s holdings in International Paper were worth $6,088,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new position in International Paper during the 4th quarter valued at about $27,000. Venturi Wealth Management LLC grew its stake in International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 753 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in International Paper by 60.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 885 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 333 shares in the last quarter. Desjardins Global Asset Management Inc. grew its stake in International Paper by 45.5% in the 1st 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. Finally, Quarry LP grew its stake in International Paper by 992.2% in the 2nd quarter. Quarry LP now owns 1,114 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 1,012 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on IP. Wells Fargo & Company dropped their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Jefferies Financial Group dropped their price objective on shares of International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, October 18th. Finally, Truist Financial dropped their price objective on shares of International Paper from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, International Paper currently has a consensus rating of “Hold” and a consensus target price of $35.00.

View Our Latest Research Report on International Paper

International Paper Trading Up 0.7 %

NYSE:IP opened at $35.50 on Tuesday. International Paper has a 52 week low of $29.00 and a 52 week high of $39.46. The firm has a 50 day moving average of $36.41 and a 200 day moving average of $35.17. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 43.29 and a beta of 0.99.

International Paper (NYSE:IPGet Free Report) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. International Paper’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Paper will post 1.92 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 22nd will be issued a $0.4625 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.21%. International Paper’s dividend payout ratio is currently 225.61%.

International Paper Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including 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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