Swiss National Bank Cuts Stock Holdings in International Paper (NYSE:IP)

Swiss National Bank lessened its stake in International Paper (NYSE:IP) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,027,500 shares of the basic materials company’s stock after selling 36,100 shares during the quarter. Swiss National Bank’s holdings in International Paper were worth $37,144,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Manchester Capital Management LLC bought a new stake in International Paper in the third quarter worth $25,000. CVA Family Office LLC purchased a new stake in International Paper in the fourth quarter worth about $27,000. Venturi Wealth Management LLC lifted its position in International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of International Paper in the 4th quarter worth about $36,000. Finally, First Command Advisory Services Inc. bought a new position in shares of International Paper in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the subject of several research analyst reports. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.57.

International Paper Stock Up 5.2 %

Shares of International Paper stock opened at $38.84 on Wednesday. International Paper has a 1 year low of $29.00 and a 1 year high of $41.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 79.27 and a beta of 1.01. The firm’s 50-day moving average is $36.84 and its two-hundred day moving average is $35.88.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, research analysts expect that International Paper will post 1.88 earnings per share for the current fiscal year.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 9,400 shares of company stock worth $331,402 over the last quarter. Insiders own 0.55% of the company’s stock.

International Paper Company 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.