International Paper (NYSE:IP) SVP Jeanmichel Ribieras sold 4,417 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $57.75, for a total value of $255,081.75. Following the sale, the senior vice president now owns 61,333 shares in the company, valued at $3,541,980.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
NYSE:IP traded up $0.22 during midday trading on Wednesday, hitting $57.97. The stock had a trading volume of 111,129 shares, compared to its average volume of 2,679,810. International Paper has a one year low of $38.38 and a one year high of $65.27. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of 20.05 and a beta of 1.05. The stock has a 50-day moving average of $59.15 and a 200 day moving average of $58.81. The company has a quick ratio of 1.20, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 29th. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. International Paper had a return on equity of 16.67% and a net margin of 5.33%. The company had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.60 billion. On average, sell-side analysts anticipate that International Paper will post 4.87 earnings per share for the current fiscal year.
IP has been the topic of several recent analyst reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, June 11th. Zacks Investment Research downgraded International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a report on Monday, July 19th. Stephens upgraded International Paper from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $58.00 to $80.00 in a report on Monday, June 28th. Wells Fargo & Company increased their price target on International Paper from $66.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, June 7th. Finally, Jefferies Financial Group increased their price target on International Paper from $78.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 4th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.17.
A number of hedge funds and other institutional investors have recently made changes to their positions in IP. Strategic Blueprint LLC bought a new stake in International Paper during the 2nd quarter valued at $29,000. Providence Capital Advisors LLC bought a new stake in International Paper during the 2nd quarter valued at $31,000. Stonebridge Capital Advisors LLC bought a new stake in International Paper during the 1st quarter valued at $35,000. E Fund Management Co. Ltd. bought a new stake in International Paper during the 1st quarter valued at $37,000. Finally, Logan Capital Management Inc. bought a new stake in International Paper during the 1st quarter valued at $39,000. 81.58% of the stock is currently owned by institutional investors and hedge funds.
About International Paper
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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