International Paper (NYSE:IP) announced a quarterly dividend on Tuesday, October 12th, RTT News reports. Investors of record on Monday, November 15th will be given a dividend of 1.00 per share by the basic materials company on Wednesday, December 15th. This represents a $4.00 dividend on an annualized basis and a yield of 7.18%. This is an increase from International Paper’s previous quarterly dividend of $0.51.
International Paper has raised its dividend by 10.1% over the last three years and has raised its dividend annually for the last 1 consecutive years. International Paper has a dividend payout ratio of 42.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Paper to earn $5.83 per share next year, which means the company should continue to be able to cover its $2.05 annual dividend with an expected future payout ratio of 35.2%.
Shares of International Paper stock opened at $55.74 on Wednesday. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 19.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.42. The company has a fifty day moving average of $57.74 and a 200-day moving average of $59.13. International Paper has a 52-week low of $42.48 and a 52-week high of $65.27.
In other news, SVP Jeanmichel Ribieras sold 4,417 shares of International Paper stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $57.75, for a total value of $255,081.75. Following the completion of the transaction, the senior vice president now owns 61,333 shares in the company, valued at approximately $3,541,980.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 128 shares of company stock valued at $7,473 in the last quarter. Company insiders own 0.42% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Truist Securities assumed coverage on shares of International Paper in a research report on Wednesday. They issued a “hold” rating and a $50.00 price target on the stock. Stephens raised shares of International Paper from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $58.00 to $80.00 in a research note on Monday, June 28th. UBS Group boosted their target price on shares of International Paper from $47.00 to $52.00 and gave the company a “sell” rating in a research note on Tuesday, September 28th. Wells Fargo & Company lowered their target price on shares of International Paper from $85.00 to $78.00 and set an “overweight” rating for the company in a research note on Friday, October 8th. Finally, Zacks Investment Research lowered shares of International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a research note on Monday, July 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.42.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
See Also: Intrinsic Value
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