International Paper (NYSE:IP) CAO Holly Goughnour Sells 3,500 Shares

International Paper Company (NYSE:IP) CAO Holly Goughnour sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Paper Stock Up 2.3%

IP stock opened at $42.41 on Wednesday. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The firm’s fifty day moving average is $37.29 and its 200 day moving average is $38.00. The firm has a market cap of $22.46 billion, a PE ratio of -6.50 and a beta of 0.94.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. On average, research analysts forecast that International Paper Company will post 1.38 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, August 14th. International Paper’s payout ratio is currently -28.37%.

Institutional Investors Weigh In On International Paper

Several large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of International Paper in the first quarter worth approximately $249,000. Intech Investment Management LLC lifted its holdings in International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after purchasing an additional 16,055 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in International Paper by 20.8% in the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 2,981 shares in the last quarter. Jump Financial LLC boosted its stake in International Paper by 280.9% during the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock worth $1,784,000 after purchasing an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of International Paper by 8.0% during the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after buying an additional 2,493 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IP has been the topic of a number of recent analyst reports. Citigroup increased their price target on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company upped their target price on International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group increased their target price on International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Tuesday, July 14th. Finally, Truist Financial reissued a “buy” rating and issued a $49.00 price target (up from $46.00) on shares of International Paper in a report on Friday. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.