International Paper (NYSE:IP - Get Free Report) Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now directly owns 38,945 shares in the company, valued at $1,872,475.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
International Paper Stock Performance
Shares of IP opened at $47.98 on Thursday. The firm has a market cap of $16.66 billion, a P/E ratio of 97.92 and a beta of 1.04. International Paper has a twelve month low of $31.76 and a twelve month 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 firm's 50 day moving average price is $47.86 and its two-hundred day moving average price is $44.05.
International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analysts' expectations of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. On average, analysts forecast that International Paper will post 1.55 EPS for the current fiscal year.
International Paper Dividend Announcement
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.86%. International Paper's dividend payout ratio is currently 377.55%.
Hedge Funds Weigh In On International Paper
Several hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company's stock valued at $4,100,000 after buying an additional 17,516 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company's stock worth $7,599,000 after purchasing an additional 199,687 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of International Paper during the first quarter worth approximately $1,312,000. Brookstone Capital Management lifted its holdings in International Paper by 1,759.4% during the 1st quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company's stock worth $9,808,000 after purchasing an additional 237,837 shares during the last quarter. Finally, Lloyd Advisory Services LLC. boosted its stake in International Paper by 471.4% in the 1st quarter. Lloyd Advisory Services LLC. now owns 35,030 shares of the basic materials company's stock valued at $1,367,000 after purchasing an additional 28,899 shares during the period. 81.95% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
IP has been the subject of a number of analyst reports. Stifel Nicolaus started coverage on shares of International Paper in a report on Tuesday, July 9th. They set a "hold" rating and a $48.70 target price for the company. Truist Financial upped their price objective on International Paper from $55.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday. Royal Bank of Canada raised their target price on International Paper from $52.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Argus raised International Paper from a "hold" rating to a "buy" rating and set a $52.00 price target for the company in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.46.
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About International Paper
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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.
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