Czech National Bank Purchases 4,563 Shares of International Paper (NYSE:IP)

Czech National Bank boosted its stake in shares of International Paper (NYSE:IP - Free Report) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,325 shares of the basic materials company's stock after purchasing an additional 4,563 shares during the quarter. Czech National Bank's holdings in International Paper were worth $4,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in International Paper in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in International Paper during the third quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper in the third quarter worth $28,000. Versant Capital Management Inc increased its position in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after purchasing an additional 448 shares during the last quarter. Finally, Eastern Bank bought a new position in International Paper during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the sale, the director now owns 37,745 shares in the company, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 1,800 shares of company stock valued at $100,848. Company insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

IP has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Truist Financial upped their price target on International Paper from $61.00 to $65.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.99.

International Paper Stock Performance

NYSE:IP traded up $0.68 during mid-day trading on Thursday, hitting $56.34. 2,919,978 shares of the stock were exchanged, compared to its average volume of 4,023,888. The firm's 50-day simple moving average is $56.06 and its 200 day simple moving average is $50.46. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 48.15 and a beta of 1.03. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. 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 - Get Free Report) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, equities analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

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.