Insider Selling: International Paper (NYSE:IP) Director Sells $33,714.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

International Paper Stock Performance

IP stock opened at $58.84 on Thursday. International Paper has a 1-year low of $32.21 and a 1-year high of $60.22. The business’s 50-day moving average price is $51.01 and its two-hundred day moving average price is $47.05. The firm has a market cap of $20.44 billion, a PE ratio of 50.29 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.70 billion. During the same period in the previous year, the firm earned $0.64 EPS. International Paper’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that International Paper will post 1.22 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 given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Institutional Investors Weigh In On International Paper

Several institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in International Paper by 25.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,316 shares of the basic materials company’s stock worth $1,261,000 after acquiring an additional 6,611 shares during the last quarter. Blair William & Co. IL increased its stake in International Paper by 5.2% in the 1st quarter. Blair William & Co. IL now owns 70,644 shares of the basic materials company’s stock valued at $2,757,000 after buying an additional 3,498 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in International Paper by 8.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,392 shares of the basic materials company’s stock worth $7,742,000 after buying an additional 14,768 shares in the last quarter. Edgestream Partners L.P. raised its holdings in International Paper by 241.1% during the first quarter. Edgestream Partners L.P. now owns 72,600 shares of the basic materials company’s stock worth $2,833,000 after acquiring an additional 51,318 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in International Paper by 36.2% during the first quarter. Clearbridge Investments LLC now owns 95,893 shares of the basic materials company’s stock valued at $3,742,000 after purchasing an additional 25,487 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

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.