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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The sale was disclosed in a legal filing with the SEC, which is available at this link.

International Paper Price Performance

IP stock opened at $46.25 on Wednesday. The company has a 50 day simple moving average of $40.28 and a 200 day simple moving average of $37.89. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 94.39 and a beta of 1.06. International Paper has a 1 year low of $30.23 and a 1 year high of $46.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Research analysts anticipate that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Institutional Investors Weigh In On International Paper

A number of institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its holdings in International Paper by 37.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 295 shares during the last quarter. Czech National Bank boosted its stake in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 295 shares during the last quarter. Kentucky Retirement Systems boosted its stake in shares of International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after purchasing an additional 298 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of International Paper by 19.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 314 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of International Paper by 4.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after purchasing an additional 318 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on IP. Truist Financial boosted their target price on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.71.

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.