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

International Paper (NYSE:IP - Get Free Report) Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total transaction of $28,848.00. Following the transaction, the director now owns 38,945 shares in the company, valued at $1,872,475.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

International Paper Price Performance

Shares of IP traded up $0.24 during trading hours on Wednesday, reaching $47.98. 4,876,905 shares of the stock traded hands, compared to its average volume of 5,278,869. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.66 billion, a P/E ratio of 97.92 and a beta of 1.04. The company's 50-day moving average price is $47.86 and its two-hundred day moving average price is $44.05.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.86%. International Paper's payout ratio is 377.55%.

Institutional Trading of International Paper

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in International Paper by 1,896.7% in the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company's stock worth $7,599,000 after acquiring an additional 199,687 shares during the last quarter. SageView Advisory Group LLC increased its position in International Paper by 9.4% in the fourth quarter. SageView Advisory Group LLC now owns 22,688 shares of the basic materials company's stock worth $824,000 after purchasing an additional 1,944 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in International Paper during the fourth quarter valued at $178,000. Los Angeles Capital Management LLC bought a new position in International Paper during the first quarter valued at $1,312,000. Finally, Tompkins Financial Corp grew its stake in shares of International Paper by 148.1% in the 1st quarter. Tompkins Financial Corp now owns 3,350 shares of the basic materials company's stock worth $131,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Argus raised International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Wells Fargo & Company raised their target price 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 assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a "hold" rating and a $48.70 price target for the company. Finally, Truist Financial increased their price objective on shares of International Paper from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.46.

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.