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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the transaction, the director now owns 37,745 shares in the company, valued at $2,120,891.55. This 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 the SEC website.

International Paper Price Performance

Shares of International Paper stock opened at $58.84 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 50.29 and a beta of 1.02. International Paper has a twelve month low of $32.21 and a twelve month high of $60.22. The company has a 50-day simple moving average of $51.01 and a two-hundred day simple moving average of $47.05.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Analysts forecast that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.14%. International Paper’s payout ratio is 158.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in International Paper by 25.7% during the first 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 buying an additional 6,611 shares in the last quarter. Blair William & Co. IL boosted its position in shares of International Paper by 5.2% during the 1st quarter. Blair William & Co. IL now owns 70,644 shares of the basic materials company’s stock worth $2,757,000 after acquiring an additional 3,498 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in International Paper by 8.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,392 shares of the basic materials company’s stock valued at $7,742,000 after acquiring an additional 14,768 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of International Paper by 241.1% in the 1st quarter. Edgestream Partners L.P. now owns 72,600 shares of the basic materials company’s stock valued at $2,833,000 after purchasing an additional 51,318 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of International Paper by 36.2% in the 1st 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. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IP. Truist Financial reissued a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective 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. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average target price of $51.54.

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.