International Paper (NYSE:IP) Shares Up 3.1%

International Paper (NYSE:IP) shares rose 3.1% on Thursday . The company traded as high as $43.42 and last traded at $42.95. Approximately 2,445,869 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 5,446,082 shares. The stock had previously closed at $41.64.

Analysts Set New Price Targets

A number of equities analysts have commented on IP shares. Wells Fargo & Company reduced their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Truist Financial restated a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.14.

International Paper Price Performance

The business’s 50 day simple moving average is $37.83 and its 200-day simple moving average is $36.39. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 85.93 and a beta of 1.01. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. On average, research analysts forecast that International Paper will post 1.85 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Insider Transactions at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 9,400 shares of company stock valued at $334,570. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Pathstone Family Office LLC acquired a new position in shares of International Paper in the 3rd quarter worth approximately $1,164,000. StrategIQ Financial Group LLC bought a new position in shares of International Paper in the 4th quarter worth about $2,271,000. Metis Global Partners LLC lifted its stake in shares of International Paper by 6.7% in the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock valued at $774,000 after purchasing an additional 1,376 shares during the period. Franklin Resources Inc. boosted its holdings in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after buying an additional 4,960,005 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its position in shares of International Paper by 40.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock worth $743,000 after buying an additional 6,033 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.