Kathryn D. Sullivan Sells 600 Shares of International Paper (NYSE:IP) Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now owns 39,802 shares in the company, valued at $1,969,402.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

International Paper Stock Performance

IP stock opened at $49.54 on Thursday. The stock’s 50 day simple moving average is $46.76 and its 200 day simple moving average is $42.54. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $31.76 and a 12-month high of $50.55. The stock has a market capitalization of $17.21 billion, a PE ratio of 101.10 and a beta of 1.04.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.73%. International Paper’s dividend payout ratio is presently 377.55%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama grew its position in International Paper by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after purchasing an additional 246 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of International Paper by 27.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock valued at $50,000 after buying an additional 251 shares during the period. Czech National Bank boosted its stake in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 295 shares during the last quarter. Altrius Capital Management Inc grew its holdings in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after acquiring an additional 296 shares during the period. Finally, Kentucky Retirement Systems increased its position in International Paper by 1.1% during the fourth quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price 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. Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and raised their target price for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Finally, Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

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.