Swiss National Bank Sells 46,700 Shares of International Paper (NYSE:IP)

Swiss National Bank lessened its position in International Paper (NYSE:IP - Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 932,300 shares of the basic materials company's stock after selling 46,700 shares during the period. Swiss National Bank owned about 0.27% of International Paper worth $50,176,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in IP. Brooklyn Investment Group acquired a new position in shares of International Paper in the 3rd quarter valued at $25,000. Sierra Ocean LLC bought a new stake in International Paper in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the fourth quarter valued at about $26,000. Legacy Investment Solutions LLC bought a new position in International Paper during the third quarter worth about $28,000. Finally, Versant Capital Management Inc boosted its holdings in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after buying an additional 448 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

IP has been the topic of several recent analyst reports. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Truist Financial reiterated a "buy" rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.86.

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International Paper Stock Performance

Shares of International Paper stock traded up $0.18 during mid-day trading on Monday, hitting $51.59. 4,530,598 shares of the stock were exchanged, compared to its average volume of 10,077,119. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a 50-day simple moving average of $55.18 and a 200 day simple moving average of $53.36. The company has a market capitalization of $27.14 billion, a P/E ratio of 32.86, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's payout ratio is 117.83%.

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.