International Paper (NYSE:IP) Sees Strong Trading Volume – Still a Buy?

International Paper (NYSE:IP) shares saw an uptick in trading volume on Friday . 6,956,753 shares traded hands during mid-day trading, an increase of 21% from the previous session’s volume of 5,739,779 shares.The stock last traded at $56.86 and had previously closed at $57.05.

Wall Street Analyst Weigh In

IP has been the topic of a number of research analyst reports. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Price Performance

The stock has a market cap of $19.38 billion, a price-to-earnings ratio of 47.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The company has a 50-day simple moving average of $56.13 and a two-hundred day simple moving average of $51.54.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 6.49% and a net margin of 2.25%. As a group, equities research analysts forecast that International Paper will post 1.07 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is currently 158.12%.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several hedge funds have recently bought and sold shares of the stock. Sierra Ocean LLC bought a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Brooklyn Investment Group acquired a new stake in International Paper in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the 3rd quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $28,000. Finally, Versant Capital Management Inc increased its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.