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 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 sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

International Paper Stock Performance

Shares of IP stock opened at $46.25 on Thursday. International Paper has a one year low of $30.23 and a one year high of $46.40. 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 stock has a market cap of $16.06 billion, a P/E ratio of 94.39 and a beta of 1.06. The company has a fifty day moving average price of $40.44 and a two-hundred day moving average price of $37.95.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) 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 business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities analysts predict that International Paper will post 1.84 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be given a dividend of $0.4625 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 4.00%. International Paper’s dividend payout ratio (DPR) is 377.55%.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the period. Franklin Resources Inc. increased its position 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 buying an additional 4,960,005 shares during the period. Bank of New York Mellon Corp boosted its position in shares of International Paper by 82.8% in the first quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after acquiring an additional 2,755,441 shares during the period. Norges Bank acquired a new position in shares of International Paper in the fourth quarter valued at about $94,913,000. Finally, Acadian Asset Management LLC increased its position in International Paper by 208.0% during the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after acquiring an additional 1,087,933 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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 report on Thursday, May 23rd. Truist Financial upped their target price on shares of International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company lifted 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

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.