Czech National Bank Raises Holdings in International Paper (NYSE:IP)

Czech National Bank lifted its stake in International Paper (NYSE:IP) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,762 shares of the basic materials company’s stock after purchasing an additional 4,575 shares during the quarter. Czech National Bank’s holdings in International Paper were worth $3,457,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Bard Financial Services Inc. purchased a new position in International Paper in the 3rd quarter worth $305,000. Massmutual Trust Co. FSB ADV raised its stake in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 239 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of International Paper during the second quarter worth about $227,000. Bluefin Capital Management LLC purchased a new stake in International Paper in the second quarter valued at approximately $227,000. Finally, Sanctuary Advisors LLC acquired a new position in International Paper in the 2nd quarter worth approximately $1,104,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at $1,843,383.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $931,502 in the last three months. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial boosted their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Up 2.5 %

Shares of International Paper stock opened at $48.19 on Friday. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The company has a market cap of $16.74 billion, a P/E ratio of 39.50 and a beta of 1.04. The firm has a 50-day simple moving average of $47.61 and a two-hundred day simple moving average of $43.78.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. International Paper’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

About International Paper

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.