International Paper (NYSE:IP) Director Kathryn D. Sullivan Sells 600 Shares

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $37.78, for a total transaction of $22,668.00. Following the completion of the transaction, the director now owns 41,188 shares in the company, valued at approximately $1,556,082.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Paper Price Performance

NYSE:IP traded down $0.42 during trading hours on Tuesday, hitting $36.35. The stock had a trading volume of 4,034,349 shares, compared to its average volume of 4,558,583. The company has a 50 day simple moving average of $36.64 and a two-hundred day simple moving average of $35.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a one year low of $29.00 and a one year high of $41.28. The firm has a market capitalization of $12.63 billion, a price-to-earnings ratio of 44.84 and a beta of 0.99.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.87 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Research analysts forecast that International Paper will post 1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Paper

A number of large investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC purchased a new position in shares of International Paper in the third quarter valued at about $25,000. Jones Financial Companies Lllp boosted its stake in shares of International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of International Paper during the 4th quarter valued at about $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of International Paper during the 4th quarter valued at about $27,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IP. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research note on Wednesday, March 20th. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of International Paper in a research note on Friday, February 2nd. Finally, Wells Fargo & Company decreased their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and a consensus target price of $37.13.

International Paper Company Profile

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