International Paper (NYSE:IP) Hits New 1-Year High at $47.18

Shares of International Paper (NYSE:IP) reached a new 52-week high on Monday . The company traded as high as $47.18 and last traded at $47.06, with a volume of 333486 shares changing hands. The stock had previously closed at $46.08.

Analysts Set New Price Targets

IP has been the subject of a number of recent research reports. Truist Financial raised their target price on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price target 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 issued a buy rating to the company. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $44.71.

International Paper Stock Performance

The firm has a market capitalization of $16.28 billion, a P/E ratio of 94.04 and a beta of 1.06. The firm has a 50-day moving average price of $40.79 and a two-hundred day moving average price of $38.10. 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 earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business 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 firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. On average, analysts forecast that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be issued a $0.4625 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. International Paper’s dividend payout ratio is currently 377.55%.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the transaction, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 3,600 shares of company stock worth $144,744. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its position 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 valued at $39,000 after buying an additional 295 shares in the last quarter. Czech National Bank increased its position in International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after buying an additional 295 shares in the last quarter. Kentucky Retirement Systems increased its position in International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after buying an additional 298 shares in the last quarter. Parkside Financial Bank & Trust increased its position in International Paper by 19.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock valued at $67,000 after buying an additional 314 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its position in International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after buying an additional 318 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other 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.