International Paper (NYSE:IP) Reaches New 12-Month High – What’s Next?

International Paper (NYSE:IP)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $59.45 and last traded at $59.35, with a volume of 76143 shares traded. The stock had previously closed at $57.56.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.96.

International Paper Trading Up 2.0 %

The company has a 50-day simple moving average of $48.81 and a 200-day simple moving average of $45.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market cap of $20.39 billion, a P/E ratio of 50.30 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, sell-side analysts forecast that International Paper will post 1.51 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.15%. International Paper’s dividend payout ratio is presently 158.12%.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,440 shares of company stock worth $938,486. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in International Paper by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Raymond James & Associates boosted its position in International Paper by 29.6% during the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock valued at $15,704,000 after purchasing an additional 73,367 shares during the last quarter. Comerica Bank boosted its position in International Paper by 23.6% during the first quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock valued at $6,110,000 after purchasing an additional 29,904 shares during the last quarter. Sei Investments Co. boosted its position in International Paper by 9.2% during the first quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company’s stock valued at $16,659,000 after purchasing an additional 35,857 shares during the last quarter. Finally, Waverly Advisors LLC boosted its position in International Paper by 745.4% during the first quarter. Waverly Advisors LLC now owns 72,103 shares of the basic materials company’s stock valued at $2,813,000 after purchasing an additional 63,574 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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.