Insider Selling: International Paper (NYSE:IP) Director Sells $29,208.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Monday, September 30th. The shares were 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 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 through this hyperlink.

International Paper Price Performance

Shares of IP opened at $47.96 on Friday. 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 has a 50-day moving average of $47.51 and a 200-day moving average of $43.46. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 97.87 and a beta of 1.04.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. As a group, equities research analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IP. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial lifted their price target on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus began coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.21.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Paper during the fourth quarter valued at about $37,000. Janney Montgomery Scott LLC increased its holdings in International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after buying an additional 17,516 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after buying an additional 199,687 shares during the period. Los Angeles Capital Management LLC purchased a new position in International Paper in the first quarter worth about $1,312,000. Finally, Brookstone Capital Management boosted its holdings in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock worth $9,808,000 after buying an additional 237,837 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.