International Paper Co. (IP) Trading 3% Higher
International Paper Co. (NYSE:IP) shares traded up 3% during trading on Friday . The company traded as high as $45.97 and last traded at $45.35, with a volume of 3,298,862 shares traded. The stock had previously closed at $44.05.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Monday, May 2nd. Jefferies Group cut International Paper from a “buy” rating to a “hold” rating and decreased their price target for the stock from $51.00 to $47.00 in a research report on Tuesday, May 3rd. Vetr cut International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 target price on the stock. in a research report on Wednesday, May 25th. Credit Suisse Group AG cut International Paper from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $46.00 to $47.00 in a research report on Thursday, April 28th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of International Paper in a research report on Wednesday, May 18th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $45.57.
The stock’s 50-day moving average is $42.44 and its 200 day moving average is $39.63. The firm has a market cap of $18.63 billion and a PE ratio of 19.76.
International Paper (NYSE:IP) last announced its earnings results on Wednesday, April 27th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. During the same quarter in the prior year, the company earned $0.84 earnings per share. The business earned $5.10 billion during the quarter, compared to the consensus estimate of $5.21 billion. International Paper’s revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper Co. will post $3.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.76 dividend on an annualized basis and a yield of 4.00%.
In other news, SVP Timothy S. Nicholls sold 13,000 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $42.70, for a total transaction of $555,100.00. Following the transaction, the senior vice president now directly owns 212,511 shares in the company, valued at approximately $9,074,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas G. Kadien sold 15,000 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $41.94, for a total value of $629,100.00. Following the transaction, the senior vice president now owns 111,078 shares in the company, valued at $4,658,611.32. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in IP. Gratus Capital LLC raised its position in shares of International Paper by 34.4% in the fourth quarter. Gratus Capital LLC now owns 136,547 shares of the company’s stock valued at $5,148,000 after buying an additional 34,974 shares during the period. Moors & Cabot Inc. raised its position in shares of International Paper by 16.4% in the fourth quarter. Moors & Cabot Inc. now owns 50,620 shares of the company’s stock valued at $1,923,000 after buying an additional 7,124 shares during the period. Mizuho Trust & Banking Co. Ltd. raised its position in shares of International Paper by 0.5% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 598,936 shares of the company’s stock valued at $22,879,000 after buying an additional 3,217 shares during the period. Argus Investors Counsel Inc. raised its position in shares of International Paper by 4.7% in the fourth quarter. Argus Investors Counsel Inc. now owns 106,560 shares of the company’s stock valued at $4,017,000 after buying an additional 4,800 shares during the period. Finally, GAM Holding AG raised its position in shares of International Paper by 14.4% in the fourth quarter. GAM Holding AG now owns 179,366 shares of the company’s stock valued at $6,762,000 after buying an additional 22,630 shares during the period.
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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