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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

International Paper Stock Performance

Shares of International Paper stock opened at $55.77 on Friday. The business has a 50-day moving average of $48.48 and a 200 day moving average of $44.92. International Paper has a 12 month low of $31.76 and a 12 month high of $56.26. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 45.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business posted $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that International Paper will post 1.54 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is presently 151.64%.

Hedge Funds Weigh In On International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in IP. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after buying an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of International Paper in the 2nd quarter valued at about $119,012,000. Samlyn Capital LLC purchased a new position in shares of International Paper in the 2nd quarter valued at about $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of International Paper in the 2nd quarter valued at about $81,187,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Three research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.96.

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.