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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

International Paper Price Performance

Shares of NYSE IP traded down $0.37 during mid-day trading on Monday, reaching $58.46. The company had a trading volume of 2,873,894 shares, compared to its average volume of 5,280,957. The firm has a market cap of $20.31 billion, a price-to-earnings ratio of 50.28 and a beta of 1.02. The business’s 50-day simple moving average is $52.39 and its 200 day simple moving average is $48.08. International Paper has a one year low of $32.70 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. On average, research analysts predict that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Hedge Funds Weigh In On International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares during the last quarter. Empirical Finance LLC raised its position in International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in International Paper by 20.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after buying an additional 239 shares during the period. Retirement Systems of Alabama grew its position in shares of International Paper by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares during the last quarter. Finally, Altrius Capital Management Inc increased its stake in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average target price of $51.54.

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.