International Paper (NYSE:IP) Hits New 12-Month High at $50.68

International Paper (NYSE:IP) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $50.68 and last traded at $50.01, with a volume of 204796 shares changing hands. The stock had previously closed at $49.54.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IP. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.21.

International Paper Price Performance

The stock’s 50 day moving average is $46.76 and its two-hundred day moving average is $42.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The stock has a market capitalization of $17.48 billion, a PE ratio of 101.10 and a beta of 1.04.

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

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is currently 377.55%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the transaction, the director now owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the transaction, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $927,956 in the last three months. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Paper

Several large investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its position in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. Innealta Capital LLC acquired a new position in International Paper in the second quarter valued at approximately $26,000. MCF Advisors LLC increased its stake in International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC acquired a new stake in International Paper during the first quarter worth approximately $29,000. Finally, Assetmark Inc. lifted its position in shares of International Paper by 309.0% during the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.