International Paper Co (NYSE:IP) insider Jeanmichel Ribieras sold 10,000 shares of International Paper stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $54.20, for a total value of $542,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE IP traded down $0.15 during midday trading on Friday, hitting $42.67. 4,618,536 shares of the company’s stock were exchanged, compared to its average volume of 2,826,966. The company has a current ratio of 1.57, a quick ratio of 1.13 and a debt-to-equity ratio of 1.57. The company has a market cap of $20.10 billion, a PE ratio of 12.23, a P/E/G ratio of 0.99 and a beta of 1.54. International Paper Co has a twelve month low of $41.87 and a twelve month high of $66.94.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.10. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. International Paper had a return on equity of 29.24% and a net margin of 12.95%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Sell-side analysts forecast that International Paper Co will post 5.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This is an increase from International Paper’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 4.69%. International Paper’s payout ratio is currently 54.44%.
International Paper declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 9th that allows the company to buyback $430.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Qube Research & Technologies Ltd bought a new stake in International Paper during the second quarter worth approximately $106,000. Private Capital Group LLC raised its holdings in International Paper by 227.0% during the first quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,453 shares in the last quarter. Squar Milner Financial Services LLC bought a new stake in International Paper during the second quarter worth approximately $125,000. Flagship Harbor Advisors LLC bought a new stake in International Paper during the second quarter worth approximately $139,000. Finally, Vigilant Capital Management LLC raised its holdings in International Paper by 375.1% during the second quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 2,438 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.
A number of equities analysts have commented on IP shares. BMO Capital Markets decreased their target price on International Paper from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. ValuEngine downgraded International Paper from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Barclays decreased their target price on International Paper from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Monday, July 30th. Wells Fargo & Co lifted their target price on International Paper from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 9th. Finally, Stephens restated a “hold” rating and issued a $57.00 target price on shares of International Paper in a research note on Thursday, July 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.50.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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