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

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

International Paper Trading Down 0.3 %

IP stock opened at $47.96 on Friday. The firm’s fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $43.46. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 97.87 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $31.76 and a twelve month high of $50.68.

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

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Thursday, August 15th. International Paper’s payout ratio is currently 377.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IP shares. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. 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. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Truist Financial raised their target price on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company boosted their price target on shares of 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 investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average price target of $50.21.

Institutional Trading of International Paper

A number of hedge funds and other institutional investors have recently bought and sold shares of IP. Jones Financial Companies Lllp boosted its stake 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 valued at $25,000 after purchasing an additional 475 shares during the period. Innealta Capital LLC purchased a new stake in International Paper in the 2nd quarter valued at about $26,000. MCF Advisors LLC grew its stake in International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of International Paper during the first quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Paper during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.