International Paper Company (NYSE:IP) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in International Paper Company (NYSE:IP - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,944 shares of the basic materials company's stock after acquiring an additional 34,183 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in International Paper were worth $10,720,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Summit Financial LLC raised its holdings in International Paper by 4.3% in the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock worth $293,000 after buying an additional 224 shares during the last quarter. Greenleaf Trust raised its holdings in shares of International Paper by 2.5% during the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after purchasing an additional 224 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after purchasing an additional 231 shares during the last quarter. Csenge Advisory Group raised its holdings in shares of International Paper by 1.5% during the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after purchasing an additional 234 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of International Paper by 6.0% during the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

International Paper Stock Down 12.8%

Shares of NYSE:IP traded down $6.89 during trading on Thursday, reaching $46.74. The stock had a trading volume of 16,289,721 shares, compared to its average volume of 3,943,986. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $24.67 billion, a P/E ratio of 39.95, a PEG ratio of 0.49 and a beta of 1.02. The firm's 50-day simple moving average is $49.28 and its 200 day simple moving average is $50.93. International Paper Company has a one year low of $43.27 and a one year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. International Paper's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. As a group, research analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's payout ratio is presently 158.12%.

Analysts Set New Price Targets

IP has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group started coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Finally, Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $55.65.

International Paper 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.