International Paper Target of Unusually High Options Trading (NYSE:IP)

International Paper (NYSE:IP) was the target of some unusual options trading on Thursday. Stock investors acquired 22,683 call options on the company. This represents an increase of approximately 509% compared to the average volume of 3,723 call options.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IP. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Truist Financial lifted their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada raised their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.99.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now directly owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Several large investors have recently made changes to their positions in IP. Secured Retirement Advisors LLC purchased a new stake in shares of International Paper during the 4th quarter valued at about $205,000. Allworth Financial LP increased its stake in International Paper by 45.3% during the 4th quarter. Allworth Financial LP now owns 1,728 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 539 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of International Paper during the fourth quarter worth $788,000. Principal Securities Inc. raised its holdings in International Paper by 20.0% in the 4th quarter. Principal Securities Inc. now owns 9,285 shares of the basic materials company’s stock worth $500,000 after purchasing an additional 1,546 shares during the period. Finally, bLong Financial LLC acquired a new position in International Paper in the 4th quarter valued at $316,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

NYSE:IP opened at $57.15 on Friday. The business’s 50-day moving average price is $56.17 and its 200 day moving average price is $51.51. The firm has a market cap of $19.85 billion, a P/E ratio of 48.85 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. As a group, sell-side analysts predict that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.