Kathryn D. Sullivan Sells 600 Shares of International Paper (NYSE:IP) Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

International Paper Price Performance

IP traded down $0.20 on Monday, reaching $57.38. The company had a trading volume of 407,196 shares, compared to its average volume of 5,311,900. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The business has a 50 day simple moving average of $50.36 and a 200 day simple moving average of $46.66.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.29 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.22%. International Paper’s payout ratio is 158.12%.

Analyst Ratings Changes

Several brokerages have weighed in on IP. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Truist Financial reissued a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of International Paper in the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new stake in International Paper during the second quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in International Paper during the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the third quarter worth about $28,000. Finally, Crewe Advisors LLC bought a new stake in shares of International Paper in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.