International Paper (IP) To Go Ex-Dividend on November 15th

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 3.23%. The ex-dividend date is Friday, November 15th.

International Paper has decreased its dividend payment by an average of 3.4% per year over the last three years. International Paper has a payout ratio of 61.7% meaning its dividend is sufficiently covered by earnings. Analysts expect International Paper to earn $2.86 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 64.7%.

International Paper Trading Down 0.6 %

Shares of International Paper stock opened at $57.30 on Wednesday. The stock has a market capitalization of $19.91 billion, a PE ratio of 48.97 and a beta of 1.02. International Paper has a 52 week low of $31.76 and a 52 week high of $59.52. The stock has a 50 day moving average price of $49.59 and a two-hundred day moving average price of $46.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the business posted $0.64 EPS. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that International Paper will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IP has been the subject of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus target price of $51.96.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the transaction, the director now owns 38,345 shares of the company’s stock, valued at $2,051,457.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock worth $938,486. 0.55% of the stock is owned by company insiders.

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.