New Mexico Educational Retirement Board Makes New $872,000 Investment in International Paper Company $IP

New Mexico Educational Retirement Board bought a new stake in shares of International Paper Company (NYSE:IP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,302 shares of the basic materials company’s stock, valued at approximately $872,000.

A number of other hedge funds also recently bought and sold shares of the company. Aberdeen Wealth Management LLC purchased a new stake in International Paper in the second quarter worth approximately $27,000. Salomon & Ludwin LLC purchased a new stake in International Paper during the third quarter valued at $25,000. Ascentis Independent Advisors purchased a new stake in International Paper during the first quarter valued at $28,000. Richardson Financial Services Inc. bought a new position in International Paper in the third quarter valued at about $26,000. Finally, Delta Asset Management LLC TN bought a new position in International Paper in the second quarter valued at about $31,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IP shares. Argus reiterated a “buy” rating and issued a $45.00 price objective on shares of International Paper in a research note on Thursday, September 24th. Bank of America restated a “buy” rating on shares of International Paper in a research report on Thursday, October 29th. Weiss Ratings cut shares of International Paper from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday. Royal Bank Of Canada upped their target price on shares of International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Stock Performance

Shares of IP opened at $34.67 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $34.22 and a two-hundred day simple moving average of $37.13. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of -5.28, a PEG ratio of 5.15 and a beta of 0.97. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the company earned ($0.43) earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect that International Paper Company will post 1.14 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a yield of 5.3%. International Paper’s dividend payout ratio (DPR) is presently -28.20%.

International Paper Profile

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications. The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.