International Paper (NYSE:IP) SVP Clay Ellis Sells 18,819 Shares of Stock

International Paper Company (NYSE:IP) SVP Clay Ellis sold 18,819 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

International Paper Trading Up 0.1%

International Paper stock opened at $38.74 on Thursday. International Paper Company has a 52-week low of $35.56 and a 52-week high of $60.15. The company has a market cap of $20.46 billion, a P/E ratio of -14.84, a P/E/G ratio of 1.22 and a beta of 1.09. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $40.78 and a two-hundred day simple moving average of $45.64.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The firm’s quarterly revenue was up 56.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.8%. International Paper’s payout ratio is -70.88%.

Analyst Upgrades and Downgrades

Several research firms have commented on IP. Citigroup dropped their price objective on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Seaport Res Ptn lowered International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. BNP Paribas Exane upgraded International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Monday, November 24th. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, JPMorgan Chase & Co. dropped their target price on International Paper from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $50.44.

Institutional Trading of International Paper

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of International Paper by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after purchasing an additional 1,592,411 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in International Paper by 9.7% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock valued at $108,819,000 after acquiring an additional 205,888 shares during the period. Consolidated Planning Corp purchased a new position in shares of International Paper during the second quarter worth $317,000. Whalen Wealth Management Inc. purchased a new stake in International Paper in the second quarter valued at $604,000. Finally, Norges Bank acquired a new position in shares of International Paper in the 2nd quarter valued at about $281,735,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.