Zurcher Kantonalbank Zurich Cantonalbank Has $18.30 Million Stock Holdings in International Paper (NYSE:IP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in International Paper (NYSE:IP - Free Report) by 97.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 506,153 shares of the basic materials company's stock after buying an additional 249,804 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.15% of International Paper worth $18,297,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of IP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of International Paper by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company's stock worth $2,391,000 after acquiring an additional 3,209 shares during the period. Raymond James Trust N.A. increased its holdings in shares of International Paper by 4.5% in the 1st quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company's stock worth $399,000 after acquiring an additional 369 shares during the period. Desjardins Global Asset Management Inc. increased its holdings in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company's stock worth $31,000 after acquiring an additional 211 shares during the period. Cibc World Market Inc. acquired a new stake in shares of International Paper in the 1st quarter worth about $206,000. Finally, Vontobel Holding Ltd. increased its holdings in shares of International Paper by 1.6% in the 1st quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company's stock worth $1,947,000 after acquiring an additional 676 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Insider Transactions at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 8,800 shares of company stock valued at $310,438 in the last quarter. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

IP has been the topic of a number of analyst reports. Truist Financial reaffirmed a "buy" rating and issued a $40.00 price objective on shares of International Paper in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of International Paper from $39.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, February 2nd. Citigroup raised shares of International Paper from a "neutral" rating to a "buy" rating and raised their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $37.13.

International Paper Price Performance

Shares of IP traded up $0.12 during mid-day trading on Friday, hitting $35.38. The company's stock had a trading volume of 14,618,550 shares, compared to its average volume of 4,785,190. The firm has a 50-day moving average price of $36.73 and a 200 day moving average price of $35.83. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 43.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The business's revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. On average, research analysts predict that International Paper will post 1.88 EPS for the current fiscal year.

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.