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 company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

International Paper Stock Up 0.2 %

NYSE IP opened at $57.84 on Wednesday. The business’s fifty day simple moving average is $50.78 and its 200-day simple moving average is $46.96. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm has a market cap of $20.09 billion, a PE ratio of 49.44 and a beta of 1.02. International Paper has a 52 week low of $31.76 and a 52 week high of $59.52.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. As a group, equities analysts anticipate that International Paper will post 1.29 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid 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 3.20%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Hedge Funds Weigh In On International Paper

Large investors have recently modified their holdings of the business. Brooklyn Investment Group acquired a new position in International Paper in the third quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper in the 3rd quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper during the 3rd quarter worth approximately $28,000. Innealta Capital LLC acquired a new stake in International Paper in the 2nd quarter valued at approximately $26,000. Finally, Crewe Advisors LLC purchased a new stake in International Paper in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on IP shares. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Truist Financial reissued 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. Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

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.