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 International Paper 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

International Paper Price Performance

International Paper stock traded down $0.37 during trading hours on Monday, hitting $41.21. 2,561,138 shares of the stock were exchanged, compared to its average volume of 6,698,165. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The stock has a market capitalization of $21.82 billion, a P/E ratio of -6.32 and a beta of 0.94. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The business’s 50-day moving average is $37.79 and its two-hundred day moving average is $37.95.

International Paper (NYSE:IP) last posted its 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. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. International Paper’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities research analysts expect that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Danske Bank A S acquired a new stake in shares of International Paper during the 2nd quarter worth approximately $9,429,000. Wealthfront Advisers LLC acquired a new position in International Paper in the second quarter valued at approximately $7,576,000. Meeder Advisory Services Inc. bought a new position in International Paper in the second quarter valued at approximately $209,000. Citizens Financial Group Inc. RI bought a new position in International Paper in the second quarter valued at approximately $511,000. Finally, BlackRock Inc. acquired a new stake in International Paper during the 2nd quarter worth $1,940,896,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IP shares. Royal Bank Of Canada boosted their price objective on International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Seaport Research Partners raised International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a report on Friday, May 1st. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Citigroup increased their price objective on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, UBS Group raised their price objective on shares of International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.75.

International Paper Company Profile

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.