International Paper (NYSE:IP) Given New $45.00 Price Target at Wells Fargo & Company

International Paper (NYSE:IP) had its target price boosted by Wells Fargo & Company from $43.00 to $45.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

Several other analysts also recently issued reports on IP. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They set a hold rating and a $48.70 price objective for the company. Seaport Res Ptn upgraded shares of International Paper from a hold rating to a strong-buy rating in a report on Friday, June 28th. Royal Bank of Canada lifted their price objective on International Paper from $52.00 to $56.00 and gave the stock an outperform rating in a research note on Thursday. Truist Financial increased their target price on International Paper from $52.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group upgraded shares of International Paper from a hold rating to a buy rating and boosted their price objective for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Paper has an average rating of Moderate Buy and a consensus price target of $49.96.

International Paper Price Performance

Shares of NYSE:IP opened at $46.63 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.22. The stock has a market capitalization of $16.20 billion, a P/E ratio of 94.37 and a beta of 1.06. The business has a 50-day moving average of $44.60 and a two-hundred day moving average of $39.40. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $47.40.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that International Paper will post 2.01 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.97%. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 3,600 shares of company stock valued at $150,594 over the last quarter. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Paper

A number of hedge funds have recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in International Paper in the fourth quarter valued at about $37,000. Janney Montgomery Scott LLC raised its stake in shares of International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares during the last quarter. StrategIQ Financial Group LLC acquired a new position in shares of International Paper in the 4th quarter worth approximately $2,271,000. Wellington Management Group LLP grew its position in International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after acquiring an additional 199,687 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Institutional investors and hedge funds 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.