Swiss National Bank Buys 473,746 Shares of International Paper Company (NYSE:IP)

Key Points

• The Swiss National Bank increased its stake in International Paper Company by 50.8%, acquiring an additional 473,746 shares, bringing its total ownership to approximately $75 million.
• International Paper recently reported earnings per share (EPS) of $0.20 for the quarter, missing estimates, while revenue increased 42.9% year-over-year.
• The company declared a quarterly dividend of $0.4625, with a yield of 3.9%, despite a high payout ratio of -1,850%.

Swiss National Bank lifted its stake in shares of International Paper Company (NYSE:IP - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,406,046 shares of the basic materials company's stock after acquiring an additional 473,746 shares during the quarter. Swiss National Bank owned about 0.27% of International Paper worth $75,013,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of International Paper by 66.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 938,177 shares of the basic materials company's stock worth $50,052,000 after purchasing an additional 374,132 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of International Paper by 32.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 24,466 shares of the basic materials company's stock worth $1,305,000 after purchasing an additional 5,971 shares during the last quarter. Deutsche Bank AG lifted its position in shares of International Paper by 167.6% during the 1st quarter. Deutsche Bank AG now owns 2,580,858 shares of the basic materials company's stock worth $137,689,000 after purchasing an additional 1,616,376 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of International Paper by 39.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,974,271 shares of the basic materials company's stock worth $265,377,000 after purchasing an additional 1,411,396 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of International Paper during the 1st quarter worth about $1,376,000. Institutional investors own 81.95% of the company's stock.

International Paper Trading Down 1.0%

Shares of IP opened at $47.54 on Friday. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $49.11 and a 200-day simple moving average of $50.42. The stock has a market cap of $25.10 billion, a PE ratio of -475.40, a PEG ratio of 0.57 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company's quarterly revenue was up 42.9% on a year-over-year basis. On average, sell-side analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.9%. International Paper's payout ratio is -1,850.00%.

Analyst Ratings Changes

IP has been the topic of several research reports. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company restated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Finally, UBS Group initiated coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.03.

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.

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