Swiss National Bank Has $52.56 Million Holdings in International Paper Company $IP

Swiss National Bank lifted its stake in shares of International Paper Company (NYSE:IP) by 7.1% in the 1st quarter, Holdings Channel reports. The fund 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’s holdings in International Paper were worth $52,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of International Paper in the 1st quarter valued at about $249,000. Intech Investment Management LLC lifted its holdings in shares of International Paper by 100.5% in the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after purchasing an additional 16,055 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of International Paper by 20.8% during the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after buying an additional 2,981 shares during the period. Jump Financial LLC grew its holdings in shares of International Paper by 280.9% during the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock worth $1,784,000 after buying an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of International Paper by 8.0% during the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after buying an additional 2,493 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other news, Director Scott Tozier purchased 10,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of several research reports. Royal Bank Of Canada boosted their target price on International Paper from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a research note on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target for the company. UBS Group lowered their price objective on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of International Paper from $43.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus target price of $44.31.

International Paper Stock Performance

Shares of NYSE IP opened at $38.10 on Thursday. The stock has a 50 day moving average price of $35.31 and a 200 day moving average price of $37.98. International Paper Company has a 52 week low of $29.26 and a 52 week high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The stock has a market capitalization of $20.17 billion, a PE ratio of -5.99 and a beta of 0.94.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that International Paper Company will post 1.39 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given 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 is -29.09%.

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.