Shares of International Paper (NYSE:IP – Get Free Report) have an average recommendation of “Moderate Buy” from the nine research firms currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given the company a strong buy rating. The average 12-month target price among analysts that have reported on the stock in the last year is $49.96.

IP has been the subject of several recent research reports. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday. Royal Bank of Canada raised their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial raised their price target on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and raised their price target on the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd.

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International paper price development

IP opened Friday at $46.92. The stock has a 50-day moving average of $44.73 and a 200-day moving average of $39.47. The company has a market cap of $16.30 billion, a price/earnings ratio of 95.76 and a beta of 1.06. International Paper has a 12-month low of $31.76 and a 12-month high of $47.40. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24. The basic materials company reported $0.55 earnings per share (EPS) 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 company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.59 EPS. International Paper’s quarterly revenue increased 1.1% compared to the same quarter last year. Equity analysts predict that International Paper will post 2.01 EPS for the current fiscal year.

International Paper announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will receive a dividend of $0.4625 per share. This represents an annual dividend of $1.85 and a yield of 3.94%. The ex-dividend date for this dividend is Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Insiders place their bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the sale, the Director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. During the last quarter, insiders have sold 3,600 shares of the company’s stock valued at $150,594. 0.55% of the stock is currently held by corporate insiders.

Institutional trading in international paper

A number of large investors have recently made changes to their positions in the company. HB Wealth Management LLC purchased a new stake in shares of International Paper in the 2nd quarter worth $237,000. 1834 Investment Advisors Co. acquired a new position in International Paper in the 2nd quarter worth $506,000. Atomi Financial Group Inc. raised its stake in International Paper by 12.1% in the 2nd quarter. Atomi Financial Group Inc. now owns 6,307 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 682 shares during the period. AlphaStar Capital Management LLC increased its stake in International Paper by 9.9% in the 2nd quarter. AlphaStar Capital Management LLC now owns 7,059 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 636 shares during the period. Finally, State of Michigan Retirement System increased its stake in International Paper by 1.8% in the 2nd quarter. State of Michigan Retirement System now owns 102,348 shares of the basic materials company’s stock worth $4,416,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 81.95% of the company’s stock.

Profile of International Paper Company

(Get Free Report

International Paper Company manufactures and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe and North Africa. The Company operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Company offers linerboard, media, whitetop, recycled linerboard, recycled media 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, building materials, paints, coatings and others.

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