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

Swiss National Bank lowered its stake in International Paper (NYSE:IP) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 932,300 shares of the basic materials company’s stock after selling 46,700 shares during the quarter. Swiss National Bank owned about 0.27% of International Paper worth $50,176,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in International Paper during the 3rd quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in International Paper during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in International Paper during the 4th quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in International Paper during the 3rd quarter valued at approximately $28,000. Finally, Versant Capital Management Inc grew its stake in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 2.1 %

Shares of NYSE IP opened at $51.44 on Monday. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $55.18 and its 200 day simple moving average is $53.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.86.

International Paper Company Profile

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.