Kathryn D. Sullivan Sells 600 Shares of International Paper (NYSE:IP) Stock

International Paper (NYSE:IPGet Free Report) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $38.92, for a total value of $23,352.00. Following the completion of the transaction, the director now directly owns 41,788 shares of the company’s stock, valued at $1,626,388.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

International Paper Price Performance

Shares of NYSE:IP traded down $0.35 during midday trading on Tuesday, hitting $38.68. The company had a trading volume of 1,463,418 shares, compared to its average volume of 4,461,489. International Paper has a twelve month low of $29.00 and a twelve month high of $41.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 47.30 and a beta of 0.99. The business’s 50-day simple moving average is $36.10 and its 200-day simple moving average is $35.54.

International Paper (NYSE:IPGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts predict that International Paper will post 1.84 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.4625 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.85 annualized dividend and a dividend yield of 4.78%. International Paper’s dividend payout ratio is currently 225.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC acquired a new stake in shares of International Paper during the third quarter worth about $1,164,000. Metis Global Partners LLC lifted its stake in International Paper by 6.7% in the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock valued at $774,000 after buying an additional 1,376 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in International Paper by 40.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after buying an additional 6,033 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in International Paper by 70.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 207,329 shares of the basic materials company’s stock valued at $7,495,000 after buying an additional 85,429 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in International Paper by 138.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 682,775 shares of the basic materials company’s stock valued at $24,218,000 after buying an additional 396,427 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IP. Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial reiterated a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday, March 20th. Finally, Argus cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus price target of $37.13.

View Our Latest Research Report on IP

About International Paper

(Get Free Report)

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.

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