Shares of International Paper Company (NYSE:IP – Get Free Report) rose 7.6% during mid-day trading on Friday . The stock traded as high as $41.06 and last traded at $40.7820. Approximately 6,000,260 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 6,756,895 shares. The stock had previously closed at $37.91.
Analysts Set New Price Targets
A number of analysts have commented on IP shares. Weiss Ratings lowered International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. Seaport Research Partners raised International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, May 1st. UBS Group reduced their price objective on International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Wells Fargo & Company boosted their target price on International Paper from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Truist Financial raised their price target on shares of International Paper from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.31.
Check Out Our Latest Report on IP
International Paper Trading Up 9.9%
International Paper (NYSE:IP – Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Sell-side analysts expect that International Paper Company will post 1.39 earnings per share for the current year.
International Paper Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.4%. International Paper’s dividend payout ratio (DPR) is presently -29.09%.
Insider Buying and Selling
In other International Paper news, Director Scott Tozier bought 10,000 shares of International Paper stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the acquisition, the director owned 10,025 shares in the company, valued at approximately $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On International Paper
A number of hedge funds have recently modified their holdings of the business. MCF Advisors LLC lifted its position in International Paper by 36.7% during the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 229 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after buying an additional 242 shares during the period. International Private Wealth Advisors LLC lifted its position in shares of International Paper by 4.1% during the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after buying an additional 243 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of International Paper by 3.3% during the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after acquiring an additional 244 shares during the period. Finally, Horizon Investments LLC grew its stake in shares of International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after acquiring an additional 267 shares during the period. Institutional investors own 81.95% of the company’s stock.
About International Paper
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.
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