Insider Selling: International Paper (NYSE:IP) Director Sells 600 Shares of Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The transaction was disclosed in a filing with the SEC, which is available through this link.

International Paper Stock Up 0.3 %

NYSE IP traded up $0.13 during trading on Tuesday, hitting $49.96. The company’s stock had a trading volume of 1,745,337 shares, compared to its average volume of 5,441,759. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.55. The company has a market cap of $17.35 billion, a PE ratio of 101.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The business’s 50 day simple moving average is $46.48 and its 200-day simple moving average is $42.39.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned $0.59 EPS. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is presently 377.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Finally, Truist Financial increased their price target on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

Institutional Investors Weigh In On International Paper

Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of International Paper during the 2nd quarter valued at approximately $227,000. Bluefin Capital Management LLC acquired a new position in shares of International Paper during the 2nd quarter worth about $227,000. Sanctuary Advisors LLC purchased a new position in International Paper in the 2nd quarter valued at about $1,104,000. Point72 Asset Management L.P. lifted its position in shares of International Paper by 246.3% in the second quarter. Point72 Asset Management L.P. now owns 486,046 shares of the basic materials company’s stock valued at $20,973,000 after acquiring an additional 818,235 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in International Paper in the 2nd quarter valued at $539,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.