International Paper (NYSE:IP) Position Cut by Swiss National Bank

Swiss National Bank lessened its position in shares of International Paper (NYSE:IP - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 932,300 shares of the basic materials company's stock after selling 46,700 shares during the period. Swiss National Bank owned approximately 0.27% of International Paper worth $50,176,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of International Paper by 38.8% in the third quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company's stock worth $58,000 after buying an additional 331 shares during the period. Atria Investments Inc boosted its position in shares of International Paper by 58.7% in the third quarter. Atria Investments Inc now owns 20,192 shares of the basic materials company's stock worth $986,000 after buying an additional 7,465 shares during the period. Apollon Wealth Management LLC boosted its position in shares of International Paper by 16.1% in the third quarter. Apollon Wealth Management LLC now owns 9,643 shares of the basic materials company's stock worth $471,000 after buying an additional 1,334 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock worth $292,000 after buying an additional 785 shares during the period. Finally, KBC Group NV boosted its position in shares of International Paper by 23.4% in the third quarter. KBC Group NV now owns 51,072 shares of the basic materials company's stock worth $2,495,000 after buying an additional 9,693 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts recently commented on IP shares. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Truist Financial reissued 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. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.86.

International Paper Stock Performance

Shares of International Paper stock traded up $0.27 on Wednesday, reaching $52.31. 436,227 shares of the company were exchanged, compared to its average volume of 9,779,019. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The company's 50-day moving average is $55.11 and its two-hundred day moving average is $53.41. The firm has a market cap of $27.52 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's dividend payout ratio (DPR) is 117.83%.

International Paper 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.