International Paper (NYSE:IP) Director Sells $35,034.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

International Paper Stock Down 0.6 %

IP stock opened at $58.46 on Tuesday. The company’s 50 day moving average is $52.59 and its 200 day moving average is $48.21. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 49.96 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. Sell-side analysts predict that International Paper will post 1.22 EPS for the current fiscal 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 paid 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 3.16%. International Paper’s dividend payout ratio is presently 158.12%.

Institutional Investors Weigh In On International Paper

A number of large investors have recently added to or reduced their stakes in IP. Swedbank AB purchased a new position in shares of International Paper during the 1st quarter valued at about $4,490,000. Cetera Investment Advisers raised its stake in shares of International Paper by 141.6% during the first quarter. Cetera Investment Advisers now owns 135,547 shares of the basic materials company’s stock worth $5,289,000 after acquiring an additional 79,454 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of International Paper by 54.7% in the 1st quarter. Cetera Advisors LLC now owns 70,052 shares of the basic materials company’s stock worth $2,733,000 after acquiring an additional 24,781 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of International Paper by 6.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,355 shares of the basic materials company’s stock valued at $5,150,000 after purchasing an additional 7,593 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of International Paper by 46.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,956 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the stock 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 target on the stock. in a research report on Wednesday, November 13th. Truist Financial restated a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average price target of $51.54.

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.