Insider Selling: International Paper (NYSE:IP) Director Sells $27,756.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the sale, the director now owns 41,602 shares in the company, valued at $1,924,508.52. The transaction was disclosed in a filing with the SEC, which is available through this link.

International Paper Price Performance

IP stock opened at $45.94 on Friday. The firm has a market cap of $15.96 billion, a P/E ratio of 93.76 and a beta of 1.06. International Paper has a 52 week low of $31.76 and a 52 week high of $47.40. 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 firm’s fifty day moving average is $45.06 and its 200 day moving average is $39.78.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. Research analysts predict that International Paper will post 1.64 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Institutional Investors Weigh In On International Paper

A number of large investors have recently modified their holdings of the stock. Retirement Systems of Alabama boosted its stake in shares of International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of International Paper by 27.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 251 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of International Paper by 37.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 295 shares in the last quarter. Czech National Bank boosted its stake in shares of International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 295 shares in the last quarter. Finally, Kentucky Retirement Systems lifted its position in International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the period. Institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on IP shares. Truist Financial increased their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and raised their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Royal Bank of Canada raised their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $49.96.

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.