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 stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the transaction, the director now owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

International Paper Trading Up 0.4 %

NYSE IP opened at $43.50 on Wednesday. The company has a fifty day simple moving average of $41.93 and a two-hundred day simple moving average of $38.44. The stock has a market cap of $15.11 billion, a P/E ratio of 88.78 and a beta of 1.06. International Paper has a 12-month low of $30.78 and a 12-month high of $47.40. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 24th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.25%. International Paper’s dividend payout ratio is currently 377.55%.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Truist Financial reissued a “buy” rating and set a $52.00 target price on shares of International Paper in a research report on Thursday, June 27th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and increased their target price for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in shares of International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 475 shares during the period. CVA Family Office LLC acquired a new stake in shares of International Paper in the fourth quarter worth $27,000. MCF Advisors LLC increased its stake in shares of International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the period. Crewe Advisors LLC acquired a new stake in shares of International Paper in the first quarter worth $29,000. Finally, Assetmark Inc. increased its stake in shares of International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 649 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.