Holly Goughnour Sells 3,500 Shares of International Paper (NYSE:IP) Stock

International Paper Company (NYSE:IP) CAO Holly Goughnour sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Paper Stock Up 2.3%

IP stock traded up $0.96 during mid-day trading on Tuesday, reaching $42.41. 4,250,275 shares of the company traded hands, compared to its average volume of 6,777,302. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average price is $37.08 and its 200 day moving average price is $38.00. The stock has a market cap of $22.46 billion, a price-to-earnings ratio of -6.50 and a beta of 0.94. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. As a group, equities research analysts predict that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.4%. International Paper’s dividend payout ratio (DPR) is -28.37%.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently added to or reduced their stakes in IP. Dynamic Technology Lab Private Ltd bought a new position in shares of International Paper during the 1st quarter valued at approximately $249,000. Intech Investment Management LLC raised its holdings in shares of International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after purchasing an additional 16,055 shares during the period. Cresset Asset Management LLC raised its holdings in shares of International Paper by 20.8% in the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 2,981 shares during the period. Jump Financial LLC lifted its stake in International Paper by 280.9% in the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after purchasing an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in International Paper by 8.0% in the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock valued at $1,580,000 after purchasing an additional 2,493 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup boosted their price target on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial reiterated a “buy” rating and issued a $49.00 price objective (up from $46.00) on shares of International Paper in a research note on Friday. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 14th. Finally, Loop Capital set a $61.00 target price on International Paper in a research note on Tuesday, July 28th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.75.

International Paper Company Profile

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.