Texas Permanent School Fund Corp Sells 20,222 Shares of International Paper Company $IP

Texas Permanent School Fund Corp reduced its stake in shares of International Paper Company (NYSE:IP) by 35.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 37,186 shares of the basic materials company’s stock after selling 20,222 shares during the period. Texas Permanent School Fund Corp’s holdings in International Paper were worth $1,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Caldwell Trust Co purchased a new stake in International Paper during the second quarter valued at about $260,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of International Paper during the 2nd quarter valued at about $33,000. Valeo Financial Advisors LLC raised its holdings in shares of International Paper by 2.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 15,349 shares of the basic materials company’s stock valued at $719,000 after buying an additional 301 shares in the last quarter. Osaic Holdings Inc. lifted its position in International Paper by 54.2% in the 2nd quarter. Osaic Holdings Inc. now owns 243,599 shares of the basic materials company’s stock worth $11,948,000 after buying an additional 85,672 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its stake in International Paper by 22.8% in the second quarter. Orion Porfolio Solutions LLC now owns 22,346 shares of the basic materials company’s stock worth $1,046,000 after buying an additional 4,146 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock opened at $39.28 on Tuesday. The company’s fifty day simple moving average is $40.35 and its two-hundred day simple moving average is $45.45. International Paper Company has a 12-month low of $35.56 and a 12-month high of $60.15. The firm has a market cap of $20.74 billion, a PE ratio of -15.05, a price-to-earnings-growth ratio of 1.20 and a beta of 1.09. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business’s revenue was up 56.4% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. As a group, equities analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.7%. International Paper’s dividend payout ratio (DPR) is currently -70.88%.

Insider Activity

In other news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on IP. Stifel Nicolaus set a $57.80 price target on shares of International Paper and gave the stock a “buy” rating in a research note on Friday, October 17th. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. UBS Group cut their price target on shares of International Paper from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Royal Bank Of Canada set a $55.00 price objective on International Paper and gave the stock an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on International Paper from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.23.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.