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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The sale was disclosed in a filing with the SEC, which is available through this link.

International Paper Stock Down 0.6 %

NYSE IP opened at $49.52 on Wednesday. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.55. The business has a fifty day moving average price of $46.62 and a two-hundred day moving average price of $42.50. 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 stock has a market capitalization of $17.20 billion, a PE ratio of 101.06 and a beta of 1.04.

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

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Wall Street Analyst Weigh In

IP has been the topic of several research reports. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Truist Financial lifted their price target on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus assumed coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in IP. Price T Rowe Associates Inc. MD boosted its stake in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Bank of New York Mellon Corp boosted its position in International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after buying an additional 8,132,332 shares during the period. Franklin Resources Inc. grew its holdings in 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 acquiring an additional 4,960,005 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in International Paper in the 2nd quarter valued at approximately $119,012,000. Finally, Norges Bank bought a new position in shares of International Paper during the fourth quarter valued at $94,913,000. 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.