International Paper’s (IP) Buy Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of International Paper (NYSE:IP) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $52.00 price objective on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup upgraded International Paper from a neutral rating to a buy rating and increased their price target for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Bank of America raised International Paper from an underperform rating to a buy rating and increased their price objective for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company increased their price objective on International Paper from $37.00 to $41.00 and gave the stock an equal weight rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group raised International Paper from a hold rating to a buy rating and increased their price objective for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $44.71.

International Paper Trading Down 0.2 %

Shares of NYSE IP opened at $43.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The business’s 50 day moving average price is $41.76 and its 200-day moving average price is $38.39. International Paper has a fifty-two week low of $30.78 and a fifty-two week high of $47.40. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 88.06 and a beta of 1.06.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts expect that International Paper will post 1.85 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.29%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $44.58, for a total transaction of $26,748.00. Following the sale, the director now owns 45,479 shares of the company’s stock, valued at approximately $2,027,453.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 3,600 shares of company stock valued at $144,744. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the last quarter. Greenhaven Associates Inc. lifted its holdings in shares of International Paper by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after purchasing an additional 25,640 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Paper by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after purchasing an additional 35,930 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of International Paper by 82.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after purchasing an additional 2,755,441 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

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.