International Paper Co. (IP) Trading 3% Higher
International Paper Co. (NYSE:IP) traded up 3% on Friday . The company traded as high as $45.97 and last traded at $45.35, with a volume of 3,298,862 shares. The stock had previously closed at $44.05.
A number of brokerages have recently commented on IP. Vetr upgraded International Paper from a “buy” rating to a “strong-buy” rating and set a $47.71 price objective for the company in a research report on Tuesday, May 3rd. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 5th. Barclays PLC reduced their target price on International Paper from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, May 2nd. Jefferies Group lowered International Paper from a “buy” rating to a “hold” rating and reduced their target price for the company from $51.00 to $47.00 in a report on Tuesday, May 3rd. Finally, Deutsche Bank AG restated a “hold” rating on shares of International Paper in a report on Wednesday, May 18th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.57.
The firm has a market cap of $18.70 billion and a PE ratio of 19.83. The company has a 50-day moving average of $42.55 and a 200-day moving average of $39.68.
International Paper (NYSE:IP) last released its earnings results on Wednesday, April 27th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the firm posted $0.84 EPS. International Paper’s revenue was down 7.4% on a year-over-year basis. On average, analysts anticipate that International Paper Co. will post $3.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.87%.
In other news, SVP Thomas G. Kadien sold 15,000 shares of International Paper stock in a transaction on Friday, May 13th. The shares were sold at an average price of $41.94, for a total transaction of $629,100.00. Following the transaction, the senior vice president now directly owns 111,078 shares of the company’s stock, valued at $4,658,611.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP W. Michael Jr. Amick sold 3,216 shares of International Paper stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $42.88, for a total transaction of $137,902.08. Following the transaction, the senior vice president now directly owns 99,750 shares in the company, valued at $4,277,280. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of IP. Tredje AP fonden boosted its stake in International Paper by 1.0% in the fourth quarter. Tredje AP fonden now owns 27,081 shares of the company’s stock valued at $1,021,000 after buying an additional 274 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in International Paper by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,086 shares of the company’s stock valued at $1,021,000 after buying an additional 246 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in International Paper by 109.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,825 shares of the company’s stock valued at $1,049,000 after buying an additional 14,565 shares in the last quarter. Home Federal Bank of Tennessee bought a new stake in International Paper during the fourth quarter valued at approximately $1,057,000. Finally, Stephens Inc. AR boosted its stake in International Paper by 12.8% in the fourth quarter. Stephens Inc. AR now owns 30,455 shares of the company’s stock valued at $1,148,000 after buying an additional 3,460 shares in the last quarter.
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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