Key Points
- International Paper VP William Thomas Hamic sold 24,500 shares at an average price of $41.20, generating approximately $1.01 million and reducing his direct holdings by 18.64%.
- The company reported quarterly EPS of $0.04, beating estimates by $0.08, but revenue fell 11.3% year over year to $6 billion and profitability remained negative.
- International Paper declared a quarterly dividend of $0.4625 per share, equivalent to a 4.5% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $48.75.
International Paper Company (NYSE:IP - Get Free Report) VP William Thomas Hamic sold 24,500 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares of the company's stock, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
International Paper Stock Performance
IP opened at $41.21 on Tuesday. The stock's 50 day simple moving average is $37.94 and its 200-day simple moving average is $37.95. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.82 billion, a PE ratio of -6.32 and a beta of 0.94. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25.
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, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 earnings per share. Sell-side analysts forecast that International Paper Company will post 1.38 EPS for the current year.
International Paper Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. International Paper's dividend payout ratio (DPR) is -28.37%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Loop Capital set a $61.00 price objective on International Paper in a report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their price target on International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. UBS Group raised their price target on International Paper from $40.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.75.
View Our Latest Stock Report on International Paper
Hedge Funds Weigh In On International Paper
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. bought a new position in International Paper during the 2nd quarter worth about $229,000. one8zero8 LLC bought a new stake in shares of International Paper in the second quarter valued at about $236,000. West Family Investments Inc. acquired a new position in shares of International Paper during the second quarter worth about $384,000. NewEdge Wealth LLC acquired a new position in International Paper during the 2nd quarter worth approximately $222,000. Finally, Danske Bank A S acquired a new position in International Paper during the 2nd quarter worth approximately $9,429,000. 81.95% of the stock is owned by institutional investors and hedge funds.
About International Paper
(
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.
Read More
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].
