Key Points
- International Paper CAO Holly Goughnour sold 3,500 shares for $146,860, reducing her position by 9.27% to 34,248 shares.
- International Paper reported quarterly EPS of $0.04, beating estimates of a $0.04 loss, but revenue fell 11.3% year over year to $6 billion.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $48.75, while the company declared a quarterly dividend of $0.4625 per share, representing a 4.4% yield.
International Paper Company (NYSE:IP - Get Free Report) CAO Holly Goughnour sold 3,500 shares of the stock in a transaction dated Tuesday, August 4th. The shares were 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 of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
International Paper Trading Up 2.3%
IP opened at $42.41 on Wednesday. The firm has a market capitalization of $22.46 billion, a price-to-earnings ratio of -6.50 and a beta of 0.94. The company's 50 day simple moving average is $37.29 and its two-hundred day simple moving average is $38.00. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84.
International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the business earned $0.20 earnings per share. The business's revenue was down 11.3% compared to the same quarter last year. Analysts expect 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 of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.4%. International Paper's payout ratio is -28.37%.
Institutional Trading of International Paper
A number of hedge funds and other institutional investors have recently modified their holdings of the business. DNB Asset Management AS increased its position in shares of International Paper by 144.2% during the fourth quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock valued at $10,199,000 after acquiring an additional 152,907 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of International Paper by 29.6% during the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock worth $4,921,000 after purchasing an additional 31,518 shares during the period. Alpha Omega Wealth Management LLC acquired a new stake in International Paper in the 4th quarter valued at approximately $1,539,000. Bellwether Advisors LLC purchased a new stake in International Paper in the first quarter valued at approximately $2,615,000. Finally, Norges Bank purchased a new stake in International Paper in the fourth quarter valued at approximately $250,093,000. 81.95% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently commented on IP. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada upped their price objective on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday. Loop Capital set a $61.00 target price on shares of International Paper in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their target price on shares of International Paper from $42.00 to $46.00 and gave the company an "overweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. raised shares of International Paper from a "neutral" rating to an "overweight" rating and increased their price target for the company from $51.00 to $61.00 in a research note on Tuesday, July 28th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, International Paper presently has a consensus rating of "Moderate Buy" and an average target price of $48.75.
Check Out Our Latest Stock Analysis on IP
International Paper Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
