International Paper Co. (IP) Stock Price Up 4%
International Paper Co. (NYSE:IP)’s share price rose 4% during trading on Thursday . The company traded as high as $48.61 and last traded at $48.41, with a volume of 3,632,922 shares. The stock had previously closed at $46.56.
IP has been the topic of a number of recent research reports. Wells Fargo & Co. reiterated a “buy” rating on shares of International Paper in a report on Monday, June 20th. Vetr lowered shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 target price on the stock. in a report on Monday, June 20th. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Monday, May 2nd. Barclays PLC dropped their target price on shares of International Paper from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, May 2nd. Finally, Jefferies Group lowered shares of International Paper from a “buy” rating to a “hold” rating and dropped their target price for the company from $51.00 to $47.00 in a report on Tuesday, May 3rd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $45.64.
The firm has a market capitalization of $19.90 billion and a P/E ratio of 26.21. The company has a 50 day moving average of $45.66 and a 200-day moving average of $41.80.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the business earned $0.97 EPS. International Paper’s revenue was down 6.9% on a year-over-year basis. On average, analysts anticipate that International Paper Co. will post $3.48 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, August 11th.
In other International Paper news, SVP Glenn R. Landau sold 10,000 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $43.28, for a total value of $432,800.00. Following the sale, the senior vice president now owns 91,554 shares of the company’s stock, valued at approximately $3,962,457.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Carol L. Roberts sold 12,256 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in IP. Dimensional Fund Advisors LP raised its stake in shares of International Paper by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,020,542 shares of the company’s stock worth $189,289,000 after buying an additional 621,585 shares during the period. Stephens Inc. AR raised its stake in shares of International Paper by 12.8% in the fourth quarter. Stephens Inc. AR now owns 30,455 shares of the company’s stock worth $1,148,000 after buying an additional 3,460 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of International Paper by 33.6% in the fourth quarter. Victory Capital Management Inc. now owns 54,210 shares of the company’s stock worth $2,044,000 after buying an additional 13,646 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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