Insider Selling: International Paper (NYSE:IP) SVP Sells $115,412.00 in Stock

International Paper (NYSE:IP) SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Paper Stock Performance

Shares of IP opened at $48.70 on Monday. The firm has a market capitalization of $16.92 billion, a PE ratio of 99.39 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $46.35 and a 200 day moving average price of $42.29. International Paper has a 52-week low of $31.76 and a 52-week high of $49.39.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio is presently 377.55%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in International Paper during the fourth quarter worth approximately $173,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of International Paper by 18.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,192 shares of the basic materials company’s stock worth $296,000 after acquiring an additional 1,288 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of International Paper by 17.9% in the 4th quarter. Ieq Capital LLC now owns 8,115 shares of the basic materials company’s stock worth $293,000 after acquiring an additional 1,232 shares during the last quarter. Westpac Banking Corp raised its position in shares of International Paper by 27.6% during the fourth quarter. Westpac Banking Corp now owns 16,617 shares of the basic materials company’s stock worth $601,000 after purchasing an additional 3,598 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of International Paper by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 87,545 shares of the basic materials company’s stock worth $3,165,000 after purchasing an additional 856 shares during the period. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IP shares. Wells Fargo & Company upped their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Truist Financial lifted their price objective 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. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Three 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

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.