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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Paper Trading Up 0.4 %

Shares of IP opened at $55.77 on Monday. The firm has a fifty day simple moving average of $48.48 and a two-hundred day simple moving average of $45.06. International Paper has a twelve month low of $31.76 and a twelve month high of $56.26. The stock has a market capitalization of $19.37 billion, a P/E ratio of 47.67 and a beta of 1.02. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, research analysts anticipate that International Paper will post 1.54 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is currently 158.12%.

Analyst Upgrades and Downgrades

IP has been the subject of several research analyst reports. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Royal Bank of Canada upped their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company raised their price target on 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, Truist Financial reiterated a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.96.

Institutional Trading of International Paper

Several large investors have recently bought and sold shares of IP. Price T Rowe Associates Inc. MD lifted its stake in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the period. Bank of New York Mellon Corp raised its holdings in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in International Paper during the second quarter valued at $119,012,000. Samlyn Capital LLC bought a new stake in shares of International Paper during the 2nd quarter valued at $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of International Paper in the 2nd quarter worth about $81,187,000. 81.95% of the stock is owned by institutional investors.

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.