International Paper (NYSE:IP) Shares Bought by Czech National Bank

Czech National Bank grew its position in shares of International Paper (NYSE:IP - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,102 shares of the basic materials company's stock after purchasing an additional 45,777 shares during the quarter. Czech National Bank's holdings in International Paper were worth $6,461,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rhumbline Advisers grew its stake in International Paper by 56.6% in the 1st quarter. Rhumbline Advisers now owns 944,205 shares of the basic materials company's stock valued at $50,373,000 after acquiring an additional 341,432 shares during the period. Parallel Advisors LLC lifted its holdings in International Paper by 23.7% during the first quarter. Parallel Advisors LLC now owns 6,614 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 1,268 shares in the last quarter. GoalVest Advisory LLC grew its position in shares of International Paper by 9.7% in the first quarter. GoalVest Advisory LLC now owns 29,933 shares of the basic materials company's stock valued at $1,597,000 after purchasing an additional 2,645 shares during the period. GAMMA Investing LLC increased its stake in shares of International Paper by 5,577.2% during the first quarter. GAMMA Investing LLC now owns 289,424 shares of the basic materials company's stock worth $154,410,000 after purchasing an additional 284,326 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. purchased a new stake in shares of International Paper during the fourth quarter worth about $403,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IP shares. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. UBS Group initiated coverage on International Paper in a research note on Wednesday. They issued a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective for the company. Finally, Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $54.54.

International Paper Trading Up 0.0%

IP traded up $0.02 during trading hours on Wednesday, reaching $47.34. The company's stock had a trading volume of 3,830,942 shares, compared to its average volume of 7,614,782. The stock has a market cap of $24.99 billion, a PE ratio of 30.15, a P/E/G ratio of 0.39 and a beta of 1.04. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business's 50-day moving average is $47.68 and its 200-day moving average is $52.70.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.91%. International Paper's payout ratio is currently 158.12%.

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.