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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the sale, the director now directly owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

International Paper Price Performance

IP stock traded down $0.21 during trading hours on Monday, hitting $42.94. 3,151,141 shares of the stock traded hands, compared to its average volume of 5,766,839. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $41.76 and a 200 day simple moving average of $38.40. International Paper has a one year low of $30.78 and a one year high of $47.40. The company has a market cap of $14.91 billion, a P/E ratio of 87.39 and a beta of 1.06.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities analysts forecast that International Paper will post 1.86 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Institutional Investors Weigh In On International Paper

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $824,716,000 after purchasing an additional 5,492,035 shares during the period. Franklin Resources Inc. grew its holdings in shares of International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares in the last quarter. Bank of New York Mellon Corp raised its position in International Paper by 82.8% during the first quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after buying an additional 2,755,441 shares during the period. Norges Bank purchased a new stake in International Paper in the 4th quarter worth about $94,913,000. Finally, The Manufacturers Life Insurance Company boosted its position in International Paper by 138.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 682,775 shares of the basic materials company’s stock worth $24,218,000 after acquiring an additional 396,427 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on IP shares. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Wells Fargo & Company lifted their target price on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.71.

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.