International Paper (NYSE:IP) Sees Strong Trading Volume – Here’s Why

International Paper (NYSE:IP) saw unusually-high trading volume on Thursday . Approximately 12,121,580 shares changed hands during trading, an increase of 18% from the previous session’s volume of 10,278,588 shares.The stock last traded at $54.90 and had previously closed at $53.88.

Analyst Ratings Changes

Several equities research analysts recently commented on IP shares. 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 note on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Trading Up 2.5 %

The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 35.19 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $55.78 and its two-hundred day simple moving average is $51.85.

International Paper (NYSE:IP) last announced 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%. Research analysts forecast that International Paper will post 3.01 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is currently 117.84%.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of International Paper in the third quarter valued at about $25,000. Sierra Ocean LLC bought a new stake in International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in shares of International Paper during the 4th quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the third quarter valued at approximately $28,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of International Paper in the third quarter worth $28,000. 81.95% of the stock is currently owned by institutional investors.

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.