International Paper Plans Quarterly Dividend of $0.46 (NYSE:IP)

International Paper (NYSE:IP) announced a quarterly dividend on Tuesday, May 13th, RTT News reports. Shareholders of record on Friday, May 23rd will be paid a dividend of 0.4625 per share by the basic materials company on Friday, June 13th. This represents a $1.85 annualized dividend and a yield of 3.70%. The ex-dividend date is Friday, May 23rd.

International Paper has decreased its dividend payment by an average of 2.6% per year over the last three years. International Paper has a dividend payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Paper to earn $3.69 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 50.1%.

International Paper Stock Performance

Shares of International Paper stock opened at $50.03 on Wednesday. International Paper has a 12 month low of $41.00 and a 12 month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a market cap of $26.41 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The business has a fifty day simple moving average of $48.71 and a 200-day simple moving average of $53.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the prior year, the company posted $0.17 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. On average, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. StockNews.com cut International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.21.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Paper

An institutional investor recently raised its position in International Paper stock. Intech Investment Management LLC raised its holdings in shares of International Paper (NYSE:IP) by 100.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,025 shares of the basic materials company’s stock after buying an additional 16,055 shares during the quarter. Intech Investment Management LLC’s holdings in International Paper were worth $1,709,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.