Swiss National Bank Trims Stake in International Paper (NYSE:IP)

Swiss National Bank lessened its stake in International Paper (NYSE:IP) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,027,500 shares of the basic materials company’s stock after selling 36,100 shares during the period. Swiss National Bank owned about 0.30% of International Paper worth $37,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Direct Indexing L.P. raised its holdings in shares of International Paper by 9.9% during the fourth quarter. First Trust Direct Indexing L.P. now owns 7,160 shares of the basic materials company’s stock valued at $259,000 after acquiring an additional 645 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in International Paper by 5.8% during the 4th quarter. Great Valley Advisor Group Inc. now owns 6,791 shares of the basic materials company’s stock valued at $245,000 after acquiring an additional 372 shares in the last quarter. Victory Capital Management Inc. lifted its position in International Paper by 24.3% during the fourth quarter. Victory Capital Management Inc. now owns 585,228 shares of the basic materials company’s stock worth $21,156,000 after buying an additional 114,462 shares in the last quarter. Savant Capital LLC boosted its stake in International Paper by 3.0% during the fourth quarter. Savant Capital LLC now owns 27,331 shares of the basic materials company’s stock worth $988,000 after buying an additional 799 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in International Paper by 59.3% in the 4th quarter. Van ECK Associates Corp now owns 17,019 shares of the basic materials company’s stock valued at $615,000 after buying an additional 6,333 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IP. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Wells Fargo & Company reduced their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $40.00 price target on shares of International Paper in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.57.

International Paper Price Performance

International Paper stock opened at $38.84 on Wednesday. International Paper has a one year low of $29.00 and a one year high of $41.30. The company has a market capitalization of $13.49 billion, a PE ratio of 79.27 and a beta of 1.01. The business has a 50 day simple moving average of $36.84 and a 200 day simple moving average of $35.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the company earned $0.53 earnings per share. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that International Paper will post 1.88 EPS 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 the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 9,400 shares of company stock worth $331,402. Company 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.