International Paper Sees Unusually High Options Volume (NYSE:IP)

International Paper (NYSE:IP) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 23,530 call options on the company. This represents an increase of approximately 111% compared to the typical daily volume of 11,170 call options.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, May 31st. The stock was sold at an average price of $44.58, for a total value of $26,748.00. Following the transaction, the director now owns 45,479 shares in the company, valued at $2,027,453.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 3,600 shares of company stock worth $144,744. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IP. PNC Financial Services Group Inc. increased its holdings in shares of International Paper by 1.4% in the third quarter. PNC Financial Services Group Inc. now owns 247,580 shares of the basic materials company’s stock valued at $8,782,000 after buying an additional 3,481 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of International Paper by 11.2% in the third quarter. Rafferty Asset Management LLC now owns 25,793 shares of the basic materials company’s stock valued at $915,000 after purchasing an additional 2,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of International Paper in the third quarter valued at $245,000. FMR LLC lifted its holdings in shares of International Paper by 51.5% in the third quarter. FMR LLC now owns 756,389 shares of the basic materials company’s stock valued at $26,829,000 after purchasing an additional 257,112 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of International Paper in the third quarter valued at $217,000. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on IP shares. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial lifted their target price on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company lifted their price target on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.71.

International Paper Stock Performance

Shares of NYSE IP opened at $46.25 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $40.44 and a 200-day simple moving average of $37.95. The company has a market cap of $16.06 billion, a PE ratio of 94.39 and a beta of 1.06. International Paper has a 12-month low of $30.23 and a 12-month high of $46.40.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the firm earned $0.53 EPS. International Paper’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 1.84 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be issued a $0.4625 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.00%. International Paper’s dividend payout ratio is currently 377.55%.

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.