Investors Buy Large Volume of Call Options on International Paper (NYSE:IP)

International Paper (NYSE:IP) was the recipient of some unusual options trading activity on Tuesday. Stock investors bought 23,530 call options on the stock. This is an increase of approximately 111% compared to the average daily volume of 11,170 call options.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IP. Wells Fargo & Company increased their target price on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial raised their price target on shares of International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.71.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $44.58, for a total transaction of $26,748.00. Following the sale, the director now owns 45,479 shares of the company’s stock, valued at approximately $2,027,453.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 3,600 shares of company stock valued at $144,744. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its holdings in shares of International Paper by 6.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 131,355 shares of the basic materials company’s stock valued at $5,150,000 after purchasing an additional 7,593 shares during the last quarter. Cetera Advisors LLC grew its stake in International Paper by 54.7% in the 1st quarter. Cetera Advisors LLC now owns 70,052 shares of the basic materials company’s stock valued at $2,733,000 after buying an additional 24,781 shares during the last quarter. Cetera Investment Advisers raised its holdings in International Paper by 141.6% in the 1st quarter. Cetera Investment Advisers now owns 135,547 shares of the basic materials company’s stock valued at $5,289,000 after acquiring an additional 79,454 shares during the period. PGGM Investments bought a new position in International Paper in the 1st quarter valued at about $274,000. Finally, Second Line Capital LLC acquired a new stake in International Paper during the first quarter worth approximately $203,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 1.9 %

Shares of International Paper stock opened at $46.25 on Wednesday. The stock has a market cap of $16.06 billion, a P/E ratio of 94.39 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $30.23 and a 12-month high of $46.40. The business’s 50 day moving average is $40.28 and its 200-day moving average is $37.89.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Equities research analysts predict that International Paper will post 1.84 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 24th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.00%. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

International Paper Company Profile

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.