International Paper (NYSE:IP) to Issue Quarterly Dividend of $0.46

International Paper (NYSE:IP) announced a quarterly dividend on Monday, October 14th, RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.4625 per share by the basic materials company on Monday, December 16th. This represents a $1.85 annualized dividend and a dividend yield of 3.85%.

International Paper has decreased its dividend by an average of 3.4% annually over the last three years. International Paper has a payout ratio of 67.5% meaning its dividend is sufficiently covered by earnings. Analysts expect International Paper to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 69.8%.

International Paper Stock Performance

Shares of NYSE:IP traded down $0.11 during midday trading on Monday, reaching $48.08. The company had a trading volume of 2,166,417 shares, compared to its average volume of 5,274,710. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The company’s 50 day moving average price is $47.66 and its 200 day moving average price is $43.90. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.70 billion, a P/E ratio of 98.35 and a beta of 1.04.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm 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 company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the completion of the transaction, the director now directly owns 41,602 shares in the company, valued at approximately $1,924,508.52. The trade was 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 accessible through the SEC website. In related news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the transaction, the director now directly owns 41,602 shares in the company, valued at $1,924,508.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $905,294 over the last three months. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IP. Royal Bank of Canada boosted their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Truist Financial raised their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.21.

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.