International Paper (NYSE:IP) Sets New 12-Month Low at $40.42

Shares of International Paper (NYSE:IPGet Rating) hit a new 52-week low on Thursday . The stock traded as low as $40.42 and last traded at $40.43, with a volume of 34027 shares changing hands. The stock had previously closed at $41.24.

Several brokerages recently weighed in on IP. Deutsche Bank Aktiengesellschaft increased their target price on International Paper from $47.00 to $48.00 in a report on Monday, April 18th. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Finally, Citigroup cut International Paper from a “buy” rating to a “neutral” rating and dropped their target price for the company from $53.00 to $46.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.82.

The company has a current ratio of 1.73, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $46.94 and a two-hundred day simple moving average of $46.40. The firm has a market cap of $15.10 billion, a PE ratio of 9.12 and a beta of 0.90.

International Paper (NYSE:IPGet Rating) last released its quarterly earnings data on Thursday, April 28th. The basic materials company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.24. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $4.96 billion. International Paper had a return on equity of 17.16% and a net margin of 8.14%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. Equities analysts expect that International Paper will post 4.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, May 27th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Thursday, May 26th. International Paper’s payout ratio is presently 40.93%.

In other news, SVP William Thomas Hamic sold 3,630 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $47.72, for a total value of $173,223.60. Following the completion of the transaction, the senior vice president now owns 22,050 shares in the company, valued at approximately $1,052,226. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Paper Co /New/ International sold 4,132,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $34.75, for a total value of $143,587,000.00. Following the transaction, the insider now directly owns 4,614,358 shares of the company’s stock, valued at approximately $160,348,940.50. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Bivin & Associates Inc. bought a new stake in shares of International Paper in the 4th quarter worth $30,000. Desjardins Global Asset Management Inc. increased its holdings in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares in the last quarter. Concord Wealth Partners increased its holdings in shares of International Paper by 527.0% in the 4th quarter. Concord Wealth Partners now owns 721 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 606 shares in the last quarter. Masso Torrence Wealth Management Inc. bought a new stake in shares of International Paper in the 4th quarter worth $35,000. Finally, Ahrens Investment Partners LLC bought a new stake in shares of International Paper in the 4th quarter worth $38,000. 82.69% of the stock is owned by institutional investors.

International Paper Company Profile (NYSE:IP)

International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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