Thomas G. Kadien Sells 10,000 Shares of International Paper Co. (IP) Stock
International Paper Co. (NYSE:IP) insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $47.86, for a total value of $478,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of International Paper Co. (NYSE:IP) opened at 48.99 on Tuesday. The stock has a 50 day moving average price of $47.52 and a 200-day moving average price of $43.47. The stock has a market capitalization of $20.14 billion, a PE ratio of 26.54 and a beta of 1.59. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90.
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, beating analysts’ consensus estimates of $0.84 by $0.08. The firm earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.32 billion. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. On average, equities research analysts anticipate that International Paper Co. will post $3.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.59%. International Paper’s dividend payout ratio (DPR) is presently 94.12%.
IP has been the subject of several recent analyst reports. Jefferies Group raised their price target on International Paper from $47.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Deutsche Bank AG raised their price objective on International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Royal Bank Of Canada restated a “sector perform” rating and issued a $42.00 price objective on shares of International Paper in a research note on Friday, July 29th. Vetr cut International Paper from a “strong-buy” rating to a “buy” rating and set a $46.00 price objective for the company. in a research note on Wednesday, June 29th. Finally, Citigroup Inc. raised their price objective on International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.14.
Hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in shares of International Paper by 237.4% in the first quarter. Sigma Planning Corp now owns 19,809 shares of the company’s stock worth $813,000 after buying an additional 13,938 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in shares of International Paper by 10.6% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 7,534 shares of the company’s stock worth $309,000 after buying an additional 719 shares during the period. Brookstone Capital Management purchased a new stake in shares of International Paper during the first quarter worth about $2,999,000. Exxonmobil Investment Management Inc. TX boosted 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 worth $4,108,000 after buying an additional 7,185 shares during the period. Finally, Capstone Asset Management Co. boosted 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 worth $9,826,000 after buying an additional 200,410 shares during the period. 81.88% of the stock is 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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