New Mexico Educational Retirement Board lowered its position in shares of International Paper Company (NYSE:IP) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,352 shares of the basic materials company’s stock after selling 3,300 shares during the period. New Mexico Educational Retirement Board’s holdings in International Paper were worth $2,109,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of International Paper by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock worth $22,282,000 after buying an additional 9,553 shares during the period. Macquarie Group Ltd. increased its stake in shares of International Paper by 1,220.4% in the fourth quarter. Macquarie Group Ltd. now owns 136,003 shares of the basic materials company’s stock worth $7,216,000 after buying an additional 125,703 shares during the period. Sound Shore Management Inc. CT increased its stake in shares of International Paper by 16.5% in the first quarter. Sound Shore Management Inc. CT now owns 3,370,525 shares of the basic materials company’s stock worth $171,155,000 after buying an additional 477,084 shares during the period. Private Trust Co. NA increased its stake in shares of International Paper by 10.4% in the second quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock worth $296,000 after buying an additional 492 shares during the period. Finally, City Holding Co. increased its stake in shares of International Paper by 2.5% in the second quarter. City Holding Co. now owns 4,100 shares of the basic materials company’s stock worth $232,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.

International Paper Company (IP) opened at 52.21 on Friday. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95. The firm has a 50-day moving average price of $56.11 and a 200-day moving average price of $53.69. The stock has a market capitalization of $21.56 billion, a PE ratio of 26.52 and a beta of 1.46.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that International Paper Company will post $3.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Friday, August 11th. International Paper’s payout ratio is 93.91%.

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A number of equities analysts recently weighed in on IP shares. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, July 11th. Vertical Research reissued a “buy” rating on shares of International Paper in a report on Friday, July 28th. Barclays PLC raised their price objective on International Paper from $45.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, May 1st. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Finally, Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $56.00 in a report on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. International Paper has an average rating of “Hold” and a consensus price target of $57.89.

In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by company insiders.

About International Paper

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

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

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