International Paper (NYSE:IP) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of International Paper (NYSE:IP - Free Report) by 36.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,210 shares of the basic materials company's stock after selling 133,621 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of International Paper worth $11,295,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IP. Corsair Capital Management L.P. purchased a new stake in International Paper in the 3rd quarter worth approximately $488,000. CreativeOne Wealth LLC lifted its stake in shares of International Paper by 96.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 21,769 shares of the basic materials company's stock valued at $1,063,000 after purchasing an additional 10,691 shares during the period. Townsquare Capital LLC acquired a new position in shares of International Paper in the 3rd quarter valued at $336,000. Transamerica Financial Advisors Inc. purchased a new stake in International Paper during the third quarter worth $108,000. Finally, Brooklyn Investment Group acquired a new stake in International Paper during the third quarter valued at $25,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

IP has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Truist Financial reissued a "buy" rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.54.

International Paper Trading Up 0.8 %

NYSE IP traded up $0.45 on Friday, reaching $58.83. 1,819,835 shares of the company were exchanged, compared to its average volume of 4,966,464. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The stock has a market capitalization of $20.44 billion, a P/E ratio of 50.28 and a beta of 1.02. The business's fifty day moving average price is $52.39 and its 200 day moving average price is $48.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Analysts forecast that International Paper will post 1.22 earnings per share for the current year.

International Paper Dividend Announcement

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

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares of the company's stock, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now owns 16,788 shares of the company's stock, valued at approximately $792,729.36. This represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,440 shares of company stock worth $505,070. 0.55% of the stock is currently owned by insiders.

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.