International Paper (NYSE:IP) Director Sells $27,066.00 in Stock

International Paper (NYSE:IPGet Free Report) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now owns 43,402 shares in the company, valued at approximately $1,957,864.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

International Paper Stock Up 0.6 %

Shares of IP opened at $46.55 on Friday. The firm has a 50 day simple moving average of $40.61 and a two-hundred day simple moving average of $38.01. The company has a market cap of $16.17 billion, a P/E ratio of 95.00 and a beta of 1.06. International Paper has a one year low of $30.23 and a one year high of $46.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IPGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. International Paper’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. Research analysts forecast that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be paid a $0.4625 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.97%. International Paper’s payout ratio is currently 377.55%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Truist Financial upped their target price on International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company lifted their price target on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and upped their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $44.71.

Get Our Latest Stock Report on International Paper

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares in the last quarter. CVA Family Office LLC acquired a new position in International Paper in the 4th quarter valued at approximately $27,000. MCF Advisors LLC raised its stake in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper in the first quarter worth $29,000. Finally, Assetmark Inc. increased its holdings in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the period. 81.95% of the stock is owned by institutional investors.

About International Paper

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for International Paper (NYSE:IP)

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