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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the completion of the transaction, the director now directly owns 39,545 shares in the company, valued at $1,925,050.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

International Paper Stock Performance

NYSE:IP traded up $0.23 during trading hours on Tuesday, reaching $49.08. The company had a trading volume of 1,368,656 shares, compared to its average volume of 5,343,970. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The business’s 50 day moving average price is $47.38 and its 200-day moving average price is $43.31. The firm has a market cap of $17.05 billion, a PE ratio of 99.69 and a beta of 1.04.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Research analysts forecast that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.77%. International Paper’s dividend payout ratio (DPR) is 377.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IP. Truist Financial boosted their target price on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.21.

Institutional Investors Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of International Paper during the second quarter valued at approximately $26,000. MCF Advisors LLC grew its stake in International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares in the last quarter. Crewe Advisors LLC purchased a new position in International Paper in the 1st quarter worth approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of International Paper during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.