Zurcher Kantonalbank Zurich Cantonalbank Has $8.98 Million Position in International Paper (NYSE:IP)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in International Paper (NYSE:IP - Free Report) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,761 shares of the basic materials company's stock after selling 64,449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in International Paper were worth $8,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in shares of International Paper during the third quarter worth $25,000. Sierra Ocean LLC acquired a new stake in shares of International Paper in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the fourth quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the third quarter valued at $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of International Paper during the third quarter worth about $28,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IP shares. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Truist Financial reiterated a "buy" rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. 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 issued a strong buy rating to the company. According to data from MarketBeat, International Paper has an average rating of "Moderate Buy" and a consensus target price of $54.86.

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International Paper Price Performance

Shares of International Paper stock traded up $1.06 on Friday, hitting $51.44. The company had a trading volume of 4,689,678 shares, compared to its average volume of 10,190,338. The business has a 50-day simple moving average of $55.18 and a 200-day simple moving average of $53.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market cap of $27.06 billion, a PE ratio of 32.76, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its 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 net margin of 2.99% and a return on equity of 4.75%. Research analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 yield of 3.60%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's dividend payout ratio is presently 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.