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 on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

International Paper Trading Down 0.6 %

NYSE:IP traded down $0.37 on Monday, reaching $58.46. The company’s stock had a trading volume of 2,873,894 shares, compared to its average volume of 5,280,957. The firm has a market cap of $20.31 billion, a PE ratio of 50.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The business’s 50-day moving average price is $52.39 and its two-hundred day moving average price is $48.08. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36.

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 analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the business earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.16%. International Paper’s dividend payout ratio is currently 158.12%.

Hedge Funds Weigh In On International Paper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in International Paper during the 3rd quarter worth approximately $614,000. World Investment Advisors LLC lifted its position in shares of International Paper by 6.1% in the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock worth $449,000 after purchasing an additional 529 shares in the last quarter. Bard Financial Services Inc. acquired a new position in International Paper during the third quarter worth $305,000. Toronto Dominion Bank grew its position in International Paper by 15.0% in the third quarter. Toronto Dominion Bank now owns 114,836 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 14,962 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in International Paper by 13.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,567 shares of the basic materials company’s stock valued at $379,000 after buying an additional 898 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IP. Argus raised 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. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Truist Financial reiterated 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. Finally, Royal Bank of Canada increased their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, International Paper has a consensus 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.