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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the transaction, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Paper Stock Up 0.1 %

Shares of NYSE:IP opened at $43.54 on Thursday. International Paper has a 52-week low of $30.78 and a 52-week high of $47.40. The stock has a market cap of $15.12 billion, a P/E ratio of 88.86 and a beta of 1.06. The business’s 50 day moving average is $42.11 and its 200 day moving average is $38.48. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Sell-side analysts predict that International Paper will post 1.9 EPS for the current year.

International Paper Announces Dividend

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

Institutional Trading of International Paper

A number of hedge funds have recently bought and sold shares of IP. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Paper during the 4th quarter valued at $37,000. StrategIQ Financial Group LLC purchased a new stake in shares of International Paper during the 4th quarter valued at $2,271,000. Franklin Resources Inc. lifted its holdings in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of International Paper by 1,896.7% during 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. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of International Paper during the 1st quarter valued at $1,312,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.