International Paper (NYSE:IP) Director Sells $22,668.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $37.78, for a total value of $22,668.00. Following the sale, the director now directly owns 41,188 shares in the company, valued at approximately $1,556,082.64. The sale was disclosed in a filing with the SEC, which is accessible through this link.

International Paper Price Performance

Shares of International Paper stock opened at $35.26 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $12.25 billion, a PE ratio of 43.00 and a beta of 0.99. The business’s 50-day moving average price is $36.73 and its 200-day moving average price is $35.83. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. Sell-side analysts forecast that International Paper will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in International Paper by 4.0% during the 1st quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after acquiring an additional 1,436,757 shares during the last quarter. State Street Corp grew its position in International Paper by 0.9% during the 1st quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock worth $1,124,403,000 after acquiring an additional 218,754 shares during the last quarter. Franklin Resources Inc. grew its position in 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 worth $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Greenhaven Associates Inc. grew its position in International Paper by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after acquiring an additional 25,640 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in International Paper by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock worth $319,844,000 after acquiring an additional 35,930 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial reaffirmed a “buy” rating and issued a $40.00 price target on shares of International Paper in a report on Wednesday. Argus cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.13.

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.