International Paper Co. (IP) Insider Sells $962,400.00 in Stock
International Paper Co. (NYSE:IP) insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total transaction of $962,400.00. The sale was disclosed in a document filed with the SEC, which is available through this link.
International Paper Co. (NYSE:IP) opened at 49.19 on Monday. International Paper Co. has a 1-year low of $32.50 and a 1-year high of $49.86. The firm’s 50-day moving average is $47.21 and its 200 day moving average is $43.13. The firm has a market cap of $20.23 billion, a PE ratio of 26.65 and a beta of 1.59.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. International Paper’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, equities analysts forecast that International Paper Co. will post $3.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 94.12%.
Several research analysts have weighed in on IP shares. Citigroup Inc. raised their price objective on shares of International Paper from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, August 31st. Credit Agricole SA raised their price target on shares of International Paper from $45.00 to $53.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 6th. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, July 5th. Deutsche Bank AG raised their price target on shares of International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Finally, Jefferies Group restated a “hold” rating on shares of International Paper in a research report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $46.14.
A number of large investors have recently made changes to their positions in the stock. Webster Bank N. A. raised its stake in shares of International Paper by 216.3% in the first quarter. Webster Bank N. A. now owns 17,556 shares of the company’s stock valued at $721,000 after buying an additional 12,006 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake in shares of International Paper by 7.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 100,107 shares of the company’s stock valued at $4,108,000 after buying an additional 7,185 shares during the period. Capstone Asset Management Co. raised its stake in shares of International Paper by 513.6% in the first quarter. Capstone Asset Management Co. now owns 239,428 shares of the company’s stock valued at $9,826,000 after buying an additional 200,410 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of International Paper by 15.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 89,203 shares of the company’s stock valued at $3,661,000 after buying an additional 11,972 shares during the period. Finally, CENTRAL TRUST Co acquired a new stake in shares of International Paper during the first quarter valued at about $3,373,000. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
International Paper Company Profile
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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