Swiss National Bank Sells 72,600 Shares of International Paper Company $IP

Swiss National Bank reduced its stake in shares of International Paper Company (NYSE:IP) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445,546 shares of the basic materials company’s stock after selling 72,600 shares during the period. Swiss National Bank owned 0.27% of International Paper worth $67,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of International Paper during the 2nd quarter valued at about $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the 2nd quarter worth approximately $35,000. CYBER HORNET ETFs LLC acquired a new stake in International Paper in the 2nd quarter worth approximately $43,000. City Holding Co. bought a new stake in International Paper during the third quarter worth approximately $46,000. Finally, Atlantic Union Bankshares Corp bought a new stake in International Paper during the third quarter worth approximately $49,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew K. Silvernail purchased 50,000 shares of International Paper stock in a transaction on Friday, January 30th. The stock was purchased at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

International Paper Stock Performance

Shares of NYSE IP opened at $38.62 on Thursday. International Paper Company has a 12 month low of $35.56 and a 12 month high of $56.64. The company has a market cap of $20.45 billion, a P/E ratio of -5.76 and a beta of 1.09. The business’s 50 day moving average is $43.30 and its two-hundred day moving average is $43.03. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The firm’s revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, equities analysts expect that International Paper Company will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IP shares. JPMorgan Chase & Co. lifted their price target on shares of International Paper from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, November 24th. Jefferies Financial Group boosted their target price on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.25.

International Paper Company Profile

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.