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 company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the sale, the director now owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

International Paper Stock Down 2.8 %

Shares of IP stock opened at $46.63 on Friday. The company’s fifty day simple moving average is $47.90 and its two-hundred day simple moving average is $44.07. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The stock has a market cap of $16.20 billion, a P/E ratio of 95.16 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 (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Analysts predict that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analysts Set New Price Targets

IP has been the subject of a number of recent research reports. 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 upped their price target on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted 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 note on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, August 14th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $50.46.

Institutional Investors Weigh In On International Paper

A number of hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its position in shares of International Paper by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after buying an additional 17,516 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of International Paper by 1,896.7% in the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of International Paper in the 1st quarter valued at approximately $1,312,000. Brookstone Capital Management increased its position in shares of International Paper by 1,759.4% during the 1st quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after purchasing an additional 237,837 shares during the last quarter. Finally, Lloyd Advisory Services LLC. raised its holdings in International Paper by 471.4% during the 1st quarter. Lloyd Advisory Services LLC. now owns 35,030 shares of the basic materials company’s stock valued at $1,367,000 after buying an additional 28,899 shares during the period. 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.