Swiss National Bank lifted its holdings in International Paper Company (NYSE:IP – Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,472,246 shares of the basic materials company’s stock after acquiring an additional 97,900 shares during the quarter. Swiss National Bank owned approximately 0.28% of International Paper worth $52,559,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. McIlrath & Eck LLC raised its position in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new stake in shares of International Paper during the fourth quarter worth $25,000. Ascentis Independent Advisors acquired a new stake in shares of International Paper in the first quarter valued at $28,000. DV Equities LLC acquired a new stake in shares of International Paper in the fourth quarter valued at $29,000. Finally, Sound Income Strategies LLC raised its holdings in shares of International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after buying an additional 344 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.
International Paper Stock Up 4.8%
International Paper stock opened at $38.10 on Thursday. The company’s 50 day simple moving average is $35.31 and its 200 day simple moving average is $37.98. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $56.13. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of -5.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94.
International Paper Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is presently -29.09%.
Insiders Place Their Bets
In other International Paper news, Director Scott Tozier bought 10,000 shares of International Paper stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the acquisition, the director owned 10,025 shares in the company, valued at approximately $313,782.50. The trade was a 40,000.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
IP has been the subject of several research reports. BNP Paribas Exane lowered their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of International Paper in a report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price target for the company. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price objective on International Paper from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.31.
Get Our Latest Research Report on International Paper
About International Paper
International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.
Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.
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