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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $34.94, for a total transaction of $20,964.00. Following the completion of the sale, the director now directly owns 40,588 shares of the company’s stock, valued at $1,418,144.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

International Paper Price Performance

Shares of IP opened at $35.28 on Thursday. International Paper has a one year low of $29.00 and a one year high of $41.28. The stock’s fifty day moving average is $36.63 and its 200-day moving average is $35.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 72.00 and a beta of 1.01.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. International Paper’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Equities analysts anticipate that International Paper will post 1.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IP. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Truist Financial restated a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.57.

Hedge Funds Weigh In On International Paper

Several large investors have recently made changes to their positions in IP. Pathstone Family Office LLC acquired a new position in shares of International Paper in the 3rd quarter worth $1,164,000. StrategIQ Financial Group LLC acquired a new stake in International Paper during the 4th quarter worth about $2,271,000. Metis Global Partners LLC lifted its stake in International Paper by 6.7% during the third quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock valued at $774,000 after buying an additional 1,376 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in International Paper by 40.5% during the third quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after buying an additional 6,033 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of International Paper by 263.1% in the fourth quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock worth $4,151,000 after acquiring an additional 83,203 shares in the last quarter. 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.