International Paper (NYSE:IP) Hits New 1-Year High at $47.18

International Paper (NYSE:IP)’s share price reached a new 52-week high on Monday . The stock traded as high as $47.18 and last traded at $47.06, with a volume of 333486 shares changing hands. The stock had previously closed at $46.08.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IP. Truist Financial boosted their target price on International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Argus cut International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company boosted their price target 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. Finally, Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

International Paper Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The company has a 50-day simple moving average of $40.79 and a 200-day simple moving average of $38.10. The company has a market cap of $16.28 billion, a price-to-earnings ratio of 94.04 and a beta of 1.06.

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

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is 377.55%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 3,600 shares of company stock valued at $144,744 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of IP. Price T Rowe Associates Inc. MD lifted its stake in International Paper by 35.1% in the 1st 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 buying an additional 5,492,035 shares in the last quarter. Franklin Resources Inc. lifted its stake in International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in International Paper by 82.8% in the 1st 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 buying an additional 2,755,441 shares in the last quarter. Norges Bank purchased a new position in shares of International Paper during the 4th quarter worth $94,913,000. Finally, AQR Capital Management LLC lifted its stake in shares of International Paper by 35.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after purchasing an additional 777,273 shares during the period. Hedge funds and other 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.