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

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the sale, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Paper Stock Down 0.3 %

Shares of IP stock traded down $0.20 during trading hours on Monday, hitting $57.38. 407,196 shares of the company’s stock traded hands, compared to its average volume of 5,311,900. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. The stock’s fifty day simple moving average is $50.36 and its two-hundred day simple moving average is $46.66. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, analysts expect that International Paper will post 1.29 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.22%. International Paper’s dividend payout ratio is presently 158.12%.

Analyst Ratings Changes

IP has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Institutional Investors Weigh In On International Paper

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after acquiring an additional 5,492,035 shares in the last quarter. FMR LLC lifted its holdings in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after buying an additional 8,132,332 shares during the last quarter. Geode Capital Management LLC increased its holdings in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after buying an additional 99,720 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.