Traders Buy High Volume of International Paper Call Options (NYSE:IP)

International Paper (NYSE:IP) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 9,831 call options on the company. This is an increase of 140% compared to the average volume of 4,102 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IP. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. Finally, StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.32.

Hedge Funds Weigh In On International Paper

A number of institutional investors have recently modified their holdings of the company. Total Wealth Planning & Management Inc. purchased a new stake in International Paper in the 4th quarter worth approximately $403,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of International Paper during the fourth quarter worth $9,950,000. Bernard Wealth Management Corp. purchased a new stake in shares of International Paper in the fourth quarter valued at $37,000. Yoffe Investment Management LLC acquired a new position in International Paper in the fourth quarter valued at $378,000. Finally, LifeWealth Investments LLC purchased a new position in International Paper during the fourth quarter worth about $432,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $56.34 on Wednesday. The firm has a market capitalization of $29.64 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business’s 50 day simple moving average is $54.96 and its 200-day simple moving average is $53.61. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

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.