Insider Selling: International Paper (NYSE:IP) Director Sells $20,964.00 in Stock

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $34.94, for a total value of $20,964.00. Following the sale, the director now directly owns 40,588 shares of the company’s stock, valued at $1,418,144.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

International Paper Stock Up 1.3 %

Shares of NYSE IP opened at $36.29 on Friday. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28. The stock has a market cap of $12.60 billion, a P/E ratio of 74.06 and a beta of 1.01. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $36.65 and its 200-day simple moving average is $35.81.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the business earned $0.53 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that International Paper will post 1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On International Paper

Several institutional investors have recently modified their holdings of the company. MCF Advisors LLC lifted its stake in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of International Paper during the 3rd quarter worth approximately $25,000. CVA Family Office LLC acquired a new position in shares of International Paper in the 4th quarter valued at $27,000. Finally, Venturi Wealth Management LLC grew its position in shares of International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research report on Monday, March 4th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company decreased their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Five equities 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, the stock has an average rating of “Hold” and an average target price of $38.57.

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.