International Paper (NYSE:IP) Director Sells $28,848.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the transaction, the director now owns 38,945 shares of the company’s stock, valued at $1,872,475.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

International Paper Trading Up 0.3 %

NYSE:IP opened at $46.78 on Friday. The company has a market capitalization of $16.25 billion, a PE ratio of 95.47 and a beta of 1.04. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The stock’s 50 day moving average price is $47.94 and its 200 day moving average price is $44.12. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its 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. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.95%. International Paper’s dividend payout ratio is presently 377.55%.

Institutional Investors Weigh In On International Paper

Several hedge funds have recently made changes to their positions in IP. Innealta Capital LLC acquired a new stake in International Paper during the 2nd quarter worth approximately $26,000. MCF Advisors LLC lifted its holdings in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the period. Crewe Advisors LLC purchased a new position in International Paper in the 1st quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in International Paper in the 2nd quarter valued at $37,000. Finally, Hilltop National Bank raised its position in International Paper by 58.9% during the 2nd quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock worth $48,000 after buying an additional 415 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IP shares. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Truist Financial upped their price objective on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus assumed coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $50.46.

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.