International Paper (NYSE:IP) Director Sells $29,208.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total value of $29,208.00. Following the transaction, the director now owns 39,545 shares in the company, valued at approximately $1,925,050.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

International Paper Stock Up 0.5 %

Shares of NYSE:IP traded up $0.23 during trading hours on Tuesday, reaching $49.08. The stock had a trading volume of 1,368,656 shares, compared to its average volume of 5,343,970. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The firm’s 50 day moving average is $47.38 and its 200-day moving average is $43.31. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 99.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59.

International Paper (NYSE:IP) last posted its earnings results 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. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. Research analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.77%. The ex-dividend date was Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IP shares. Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Truist Financial upped their price target on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus initiated coverage on International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.21.

Hedge Funds Weigh In On International Paper

Several hedge funds have recently added to or reduced their stakes in IP. Innealta Capital LLC acquired a new stake in International Paper during the 2nd quarter worth $26,000. MCF Advisors LLC increased its position in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the period. Jones Financial Companies Lllp increased its position in 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. Crewe Advisors LLC purchased a new stake in International Paper in the first quarter valued at approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in International Paper in the 2nd quarter valued at $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.