International Paper Co (NYSE:IP) SVP Jeanmichel Ribieras sold 11,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $43.74, for a total transaction of $481,140.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
NYSE:IP opened at $43.45 on Friday. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 14.15 and a beta of 1.56. The company has a current ratio of 0.77, a quick ratio of 0.51 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average is $44.12 and its two-hundred day moving average is $43.00. International Paper Co has a 12-month low of $36.45 and a 12-month high of $48.24.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.60 billion. International Paper had a net margin of 5.47% and a return on equity of 23.49%. The company’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. On average, equities research analysts forecast that International Paper Co will post 3.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.5125 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.05 annualized dividend and a dividend yield of 4.72%. International Paper’s payout ratio is currently 46.28%.
A number of equities analysts have recently weighed in on IP shares. Royal Bank of Canada set a $43.00 price target on shares of International Paper and gave the stock a “hold” rating in a research note on Friday, November 1st. KeyCorp reaffirmed a “sell” rating and set a $38.00 price target on shares of International Paper in a research note on Thursday, October 31st. Exane BNP Paribas started coverage on shares of International Paper in a research report on Monday, December 2nd. They issued an “outperform” rating and a $53.00 price objective on the stock. Credit Suisse Group started coverage on shares of International Paper in a report on Friday. They issued a “neutral” rating on the stock. Finally, Citigroup reduced their target price on shares of International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.27.
Several hedge funds have recently made changes to their positions in IP. Hotchkis & Wiley Capital Management LLC increased its position in International Paper by 8.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 7,267,586 shares of the basic materials company’s stock worth $334,672,000 after purchasing an additional 567,026 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in International Paper by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,340,301 shares of the basic materials company’s stock worth $153,821,000 after purchasing an additional 63,529 shares in the last quarter. Stifel Financial Corp increased its position in International Paper by 0.7% during the 4th quarter. Stifel Financial Corp now owns 1,748,535 shares of the basic materials company’s stock worth $80,503,000 after purchasing an additional 11,877 shares in the last quarter. Bank of Montreal Can increased its position in International Paper by 6.9% during the 4th quarter. Bank of Montreal Can now owns 1,625,741 shares of the basic materials company’s stock worth $74,865,000 after purchasing an additional 105,570 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in International Paper by 17.1% during the 4th quarter. Pictet Asset Management Ltd. now owns 1,075,563 shares of the basic materials company’s stock worth $49,530,000 after purchasing an additional 156,805 shares in the last quarter. Institutional investors and hedge funds own 81.01% of the company’s stock.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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