International Paper (NYSE:IP) Reaches New 52-Week High at $46.40

International Paper (NYSE:IP)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.40 and last traded at $46.22, with a volume of 2956603 shares trading hands. The stock had previously closed at $45.37.

Analysts Set New Price Targets

IP has been the topic of several research analyst reports. Truist Financial upped their target price on International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company upped their target price on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

International Paper Trading Up 1.9 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The firm has a fifty day simple moving average of $40.11 and a 200-day simple moving average of $37.83. The firm has a market cap of $16.06 billion, a P/E ratio of 94.41 and a beta of 1.06.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts expect that International Paper will post 1.84 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.00%. International Paper’s dividend payout ratio is presently 377.55%.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the transaction, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,600 shares of company stock worth $144,744 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp increased its position in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of International Paper during the fourth quarter valued at approximately $27,000. MCF Advisors LLC increased its position in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of International Paper during the first quarter valued at approximately $29,000. Finally, Assetmark Inc. increased its position in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.