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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total value of $27,756.00. Following the transaction, the director now owns 41,602 shares in the company, valued at $1,924,508.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

International Paper Stock Performance

IP traded down $0.29 on Thursday, reaching $46.19. 1,693,208 shares of the stock were exchanged, compared to its average volume of 5,788,658. The company’s 50-day moving average price is $45.00 and its 200 day moving average price is $39.66. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $47.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The firm has a market capitalization of $16.05 billion, a PE ratio of 94.82 and a beta of 1.06.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. As a group, sell-side analysts forecast that International Paper will post 1.64 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.01%. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Institutional Investors Weigh In On International Paper

Several large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of International Paper during the 2nd quarter worth approximately $26,000. MCF Advisors LLC boosted its holdings in shares of International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of International Paper during the 1st quarter worth approximately $29,000. Finally, Assetmark Inc. boosted its holdings in shares of International Paper by 309.0% during the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 649 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of a number of analyst reports. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Truist Financial lifted their price target on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.96.

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.