International Paper (NYSE:IP) Shares Gap Down to $46.61

Shares of International Paper (NYSE:IP) gapped down prior to trading on Thursday . The stock had previously closed at $46.61, but opened at $41.98. International Paper shares last traded at $42.25, with a volume of 7,676,404 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on IP. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday. Truist Financial reissued a “buy” rating and set a $52.00 target price on shares of International Paper in a research report on Thursday. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company upped their price target on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

International Paper Stock Performance

The company has a market capitalization of $14.99 billion, a PE ratio of 88.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The company has a 50 day moving average price of $41.76 and a 200 day moving average price of $38.37.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS 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 analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. Equities analysts forecast that International Paper will post 1.85 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 3,600 shares of company stock valued at $144,744 over the last 90 days. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Paper

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its stake in International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after buying an additional 475 shares during the last quarter. CVA Family Office LLC bought a new stake in International Paper in the fourth quarter valued at $27,000. MCF Advisors LLC raised its stake in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper during the first quarter valued at about $29,000. Finally, Assetmark Inc. raised its stake in shares of International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares in the last quarter. 81.95% of the stock is currently owned by 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.