Shares of International Paper Company (NYSE:IP – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $43.7250.
A number of research firms recently weighed in on IP. Truist Financial reduced their price objective on International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Stifel Nicolaus decreased their price objective on shares of International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a report on Monday, February 9th. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Friday, May 1st. UBS Group cut their target price on International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th.
Read Our Latest Stock Report on International Paper
International Paper Stock Down 2.7%
International Paper (NYSE:IP – Get Free Report) last posted its quarterly earnings data 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). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the business earned $0.17 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. On average, research analysts forecast that International Paper will post 1.43 EPS for the current fiscal year.
International Paper Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is -29.09%.
Insiders Place Their Bets
In other news, Director Scott Tozier purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. This represents a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anders Gustafsson purchased 13,217 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the purchase, the director owned 26,092 shares in the company, valued at approximately $987,060.36. The trade was a 102.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 36,092 shares of company stock worth $1,313,064. Company insiders own 0.21% of the company’s stock.
Hedge Funds Weigh In On International Paper
A number of institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of International Paper by 47.4% in the 1st quarter. Sei Investments Co. now owns 461,282 shares of the basic materials company’s stock worth $16,468,000 after buying an additional 148,277 shares during the last quarter. Cetera Investment Advisers lifted its position in International Paper by 7.1% during the first quarter. Cetera Investment Advisers now owns 98,789 shares of the basic materials company’s stock valued at $3,527,000 after purchasing an additional 6,575 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in International Paper during the first quarter valued at $294,000. Wiregrass Investment Management LLC purchased a new position in International Paper during the first quarter valued at $555,000. Finally, Arvest Bank Trust Division lifted its position in International Paper by 1.2% during the first quarter. Arvest Bank Trust Division now owns 41,480 shares of the basic materials company’s stock valued at $1,481,000 after purchasing an additional 509 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
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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