International Paper (NYSE:IP) Director Sells $23,352.00 in Stock

International Paper (NYSE:IPGet Free Report) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $38.92, for a total value of $23,352.00. Following the completion of the transaction, the director now directly owns 41,788 shares in the company, valued at $1,626,388.96. The sale was disclosed in a legal filing with the SEC, which is available through this link.

International Paper Price Performance

IP opened at $39.06 on Thursday. The company has a fifty day moving average price of $36.20 and a two-hundred day moving average price of $35.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The firm has a market capitalization of $13.53 billion, a PE ratio of 47.21 and a beta of 0.99. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28.

International Paper (NYSE:IPGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, analysts anticipate that International Paper will post 1.84 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 22nd were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Wednesday, February 21st. International Paper’s payout ratio is 225.61%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IP. Wells Fargo & Company cut their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Truist Financial restated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, March 20th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and a consensus target price of $37.13.

Read Our Latest Stock Report on International Paper

Institutional Investors Weigh In On International Paper

Large investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of International Paper by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock worth $2,391,000 after acquiring an additional 3,209 shares in the last quarter. Raymond James Trust N.A. increased its stake in International Paper by 4.5% during the 1st quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock worth $399,000 after purchasing an additional 369 shares in the last quarter. Desjardins Global Asset Management Inc. raised its holdings in International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares during the period. Cibc World Market Inc. bought a new position in International Paper in the first quarter valued at approximately $206,000. Finally, Vontobel Holding Ltd. boosted its position in International Paper by 1.6% during the 1st quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock worth $1,947,000 after acquiring an additional 676 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

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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