Insider Selling: International Paper (NYSE:IP) VP Sells $1,009,400.00 in Stock

International Paper Company (NYSE:IP) 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 value of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Paper Trading Down 1.7%

IP opened at $41.08 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The business’s 50 day moving average is $38.25 and its two-hundred day moving average is $37.94. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of -6.30 and a beta of 0.94.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion for 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 revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. On average, research analysts predict that International Paper Company will post 1.35 EPS for the current year.

International Paper Dividend Announcement

The firm 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 $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. International Paper’s payout ratio is currently -28.37%.

Analyst Upgrades and Downgrades

IP has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Seaport Research Partners reissued a “buy” rating and issued a $46.00 target price on shares of International Paper in a report on Wednesday. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research note on Sunday. Citigroup lifted their price objective on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of International Paper in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.75.

Institutional Trading of International Paper

Hedge funds have recently modified their holdings of the business. True Freedom Investing LLC acquired a new position in International Paper during the second quarter worth $4,574,000. First Nebraska Trust Co acquired a new position in shares of International Paper during the 2nd quarter worth $2,826,000. Bank of Nova Scotia purchased a new position in shares of International Paper in the 2nd quarter valued at about $2,100,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of International Paper in the second quarter valued at about $1,484,000. Finally, Commerce Bank acquired a new stake in shares of International Paper in the second quarter valued at about $692,000. 81.95% of the stock is owned by institutional investors and hedge funds.

About International Paper

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.