International Paper (NYSE:IP) Sees Unusually-High Trading Volume – Should You Buy?

Shares of International Paper (NYSE:IP) saw an uptick in trading volume on Friday . 6,956,753 shares were traded during trading, an increase of 21% from the previous session’s volume of 5,739,779 shares.The stock last traded at $56.86 and had previously closed at $57.05.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Friday. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Finally, Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average price target of $51.88.

International Paper Stock Down 2.2 %

The firm’s 50-day simple moving average is $56.13 and its 200-day simple moving average is $51.54. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 47.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. Sell-side analysts forecast that International Paper will post 1.07 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

A number of large investors have recently modified their holdings of IP. FMR LLC lifted its holdings in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares during the period. Point72 Asset Management L.P. boosted its holdings in International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after buying an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at approximately $84,526,000. Finally, Artemis Investment Management LLP boosted its stake in International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.