International Paper (NYSE:IP) SVP Joseph R. Saab Sells 2,440 Shares of Stock

International Paper (NYSE:IP) SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

International Paper Stock Up 1.6 %

NYSE:IP opened at $48.69 on Friday. International Paper has a twelve month low of $31.76 and a twelve month high of $49.39. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of 99.37 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $46.35 and its two-hundred day moving average price is $42.18.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Equities research analysts expect that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s payout ratio is 377.55%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised shares of 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 research note on Thursday, May 23rd. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Royal Bank of Canada increased their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new stake in International Paper in the fourth quarter valued at approximately $37,000. Janney Montgomery Scott LLC raised its stake in International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares during the period. Wellington Management Group LLP lifted its holdings in International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares during the last quarter. Franklin Resources Inc. boosted its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after purchasing an additional 4,960,005 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of International Paper in the first quarter valued at $1,312,000. Institutional investors 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.