International Paper (NYSE:IP) Hits New 52-Week High – Time to Buy?

Shares of International Paper (NYSE:IP) reached a new 52-week high during trading on Wednesday . The stock traded as high as $60.22 and last traded at $59.75, with a volume of 4362809 shares trading hands. The stock had previously closed at $57.84.

Wall Street Analysts Forecast Growth

IP has been the topic of several research analyst reports. Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Wells Fargo & Company upped 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. Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.54.

International Paper Trading Up 1.9 %

The company’s fifty day moving average price is $50.78 and its 200-day moving average price is $46.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 49.44 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, research analysts expect that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. 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 3.14%. International Paper’s payout ratio is 158.12%.

Insider Buying and Selling

In other news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,440 shares of company stock valued at $944,540. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of International Paper by 8.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,392 shares of the basic materials company’s stock worth $7,742,000 after buying an additional 14,768 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of International Paper by 36.2% in the first quarter. Clearbridge Investments LLC now owns 95,893 shares of the basic materials company’s stock valued at $3,742,000 after buying an additional 25,487 shares during the period. UniSuper Management Pty Ltd boosted its position in International Paper by 590.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,031 shares of the basic materials company’s stock worth $1,133,000 after buying an additional 24,828 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in International Paper by 2.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 273,600 shares of the basic materials company’s stock worth $10,674,000 after acquiring an additional 6,959 shares during the last quarter. Finally, Natixis raised its stake in shares of International Paper by 437.1% during the first quarter. Natixis now owns 77,404 shares of the basic materials company’s stock valued at $3,020,000 after acquiring an additional 62,992 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.