International Paper (NYSE:IP) Sets New 52-Week High – What’s Next?

International Paper (NYSE:IP) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $59.45 and last traded at $59.35, with a volume of 76143 shares trading hands. The stock had previously closed at $57.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IP. Royal Bank of Canada boosted their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial reiterated a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. 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. Finally, Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research 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 given a strong buy rating to the company. According to data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.96.

International Paper Stock Down 1.8 %

The firm has a market cap of $19.93 billion, a PE ratio of 49.92 and a beta of 1.02. The company’s 50-day simple moving average is $49.02 and its two-hundred day simple moving average is $45.46. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that International Paper will post 1.44 earnings per share for the current fiscal 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. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.22%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s 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 completion of the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $938,486 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of International Paper

A number of hedge funds and other institutional investors have recently made changes to their positions in IP. Segall Bryant & Hamill LLC purchased a new position in shares of International Paper in the 3rd quarter valued at about $1,006,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of International Paper in the 3rd quarter worth $5,762,000. Fifth Third Wealth Advisors LLC increased its position in International Paper by 95.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 9,395 shares of the basic materials company’s stock worth $459,000 after purchasing an additional 4,595 shares during the last quarter. OneAscent Financial Services LLC acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $292,000. Finally, Caprock Group LLC raised its position in shares of International Paper by 12.5% during the 3rd quarter. Caprock Group LLC now owns 99,332 shares of the basic materials company’s stock valued at $4,852,000 after buying an additional 11,047 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.