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 stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

International Paper Price Performance

International Paper stock opened at $55.77 on Friday. International Paper has a 52-week low of $31.76 and a 52-week high of $56.26. The company has a market cap of $19.37 billion, a price-to-earnings ratio of 47.67 and a beta of 1.02. The firm’s fifty day moving average is $48.48 and its 200 day moving average is $44.99. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Sell-side analysts forecast that International Paper will post 1.54 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper’s payout ratio is presently 158.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of International Paper during the second quarter valued at approximately $26,000. Crewe Advisors LLC bought a new stake in shares of International Paper during the 1st quarter worth approximately $29,000. Eastern Bank bought a new stake in shares of International Paper during the 3rd quarter worth approximately $40,000. Abich Financial Wealth Management LLC bought a new position in International Paper in the 3rd quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in International Paper in the second quarter worth $37,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IP shares. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a research report on Friday. Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus initiated coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Three investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.96.

International Paper Company Profile

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.