International Paper (NYSE:IP) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its stake in shares of International Paper (NYSE:IP) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 979,000 shares of the basic materials company’s stock after acquiring an additional 4,700 shares during the quarter. Swiss National Bank owned about 0.28% of International Paper worth $47,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in International Paper during the third quarter worth about $28,000. Innealta Capital LLC acquired a new stake in shares of International Paper in the 2nd quarter valued at approximately $26,000. Crewe Advisors LLC purchased a new stake in shares of International Paper in the first quarter valued at approximately $29,000. Eastern Bank acquired a new position in International Paper during the third quarter worth $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in International Paper during the third quarter worth $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Price Performance

IP stock opened at $58.84 on Thursday. International Paper has a 1 year low of $32.21 and a 1 year high of $60.22. The firm has a market cap of $20.44 billion, a P/E ratio of 50.29 and a beta of 1.02. The stock’s 50 day moving average price is $51.01 and its 200 day moving average price is $47.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, sell-side analysts expect that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.14%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Insiders Place Their Bets

In related news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the transaction, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,440 shares of company stock valued at $944,540. Company insiders own 0.55% of the company’s stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.