International Paper Co (NYSE:IP) insider Jeanmichel Ribieras sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $47.15, for a total value of $471,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
IP stock traded down $0.79 on Thursday, reaching $46.95. The company’s stock had a trading volume of 529,868 shares, compared to its average volume of 2,618,766. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.01. The firm has a market capitalization of $18.91 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. International Paper Co has a 52 week low of $37.55 and a 52 week high of $61.30.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.04. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.86 billion. International Paper had a return on equity of 30.72% and a net margin of 8.63%. On average, equities analysts anticipate that International Paper Co will post 5.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $2.00 annualized dividend and a dividend yield of 4.26%. International Paper’s dividend payout ratio is 37.59%.
Large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its position in International Paper by 4,091.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,104,128 shares of the basic materials company’s stock worth $102,000 after buying an additional 4,006,214 shares during the last quarter. Dimensional Fund Advisors LP grew its position in International Paper by 67.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock worth $167,264,000 after buying an additional 1,667,274 shares in the last quarter. Millennium Management LLC lifted its stake in International Paper by 202.1% during the fourth quarter. Millennium Management LLC now owns 1,379,593 shares of the basic materials company’s stock worth $55,680,000 after purchasing an additional 922,860 shares during the period. Bank of New York Mellon Corp lifted its stake in International Paper by 23.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,591,395 shares of the basic materials company’s stock worth $185,310,000 after purchasing an additional 870,015 shares during the period. Finally, Conning Inc. lifted its stake in International Paper by 4,805.7% during the third quarter. Conning Inc. now owns 733,935 shares of the basic materials company’s stock worth $36,073,000 after purchasing an additional 718,974 shares during the period. Institutional investors and hedge funds own 79.09% of the company’s stock.
IP has been the topic of several research analyst reports. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. Deutsche Bank set a $55.00 target price on International Paper and gave the company a “hold” rating in a research note on Monday, October 29th. Royal Bank of Canada lifted their price target on International Paper to $54.00 and gave the company an “outperform” rating in a research note on Friday, February 1st. Finally, Barclays decreased their price target on International Paper from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Monday, October 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. International Paper has an average rating of “Hold” and an average price target of $54.58.
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About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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