International Paper (NYSE:IP) Hits New 12-Month High at $41.30

International Paper (NYSE:IP)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.30 and last traded at $39.58, with a volume of 6757495 shares traded. The stock had previously closed at $36.92.

Analyst Ratings Changes

Several brokerages recently issued reports on IP. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Argus lowered International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Truist Financial restated a “buy” rating and set a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.57.

International Paper Trading Up 1.4 %

The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 81.31 and a beta of 1.01. The business has a 50-day moving average of $37.02 and a two-hundred day moving average of $35.93. 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 (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 analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts predict that International Paper will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 9,400 shares of company stock valued at $331,402 over the last three months. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Large investors have recently bought and sold shares of the business. Blair William & Co. IL raised its stake in shares of International Paper by 5.2% in the first quarter. Blair William & Co. IL now owns 70,644 shares of the basic materials company’s stock worth $2,757,000 after acquiring an additional 3,498 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in International Paper by 19.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 400,266 shares of the basic materials company’s stock worth $15,618,000 after purchasing an additional 65,630 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in International Paper by 3.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 458,015 shares of the basic materials company’s stock worth $16,516,000 after buying an additional 16,813 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in International Paper by 25.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,316 shares of the basic materials company’s stock worth $1,261,000 after buying an additional 6,611 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its position in International Paper by 13.6% in the 1st quarter. Cozad Asset Management Inc. now owns 37,685 shares of the basic materials company’s stock valued at $1,470,000 after buying an additional 4,504 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

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.