StockNews.com assumed coverage on shares of International Paper (NYSE:IP – Free Report) in a research note published on Friday morning. The brokerage issued a buy rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the company. Bank of America cut International Paper from a neutral rating to an underperform rating and decreased their target price for the stock from $35.00 to $33.00 in a report on Monday, July 10th. UBS Group decreased their target price on International Paper from $33.00 to $32.00 and set a neutral rating on the stock in a report on Wednesday, July 19th. 58.com restated a maintains rating on shares of International Paper in a report on Friday, April 28th. Royal Bank of Canada upgraded International Paper from a sector perform rating to an outperform rating and decreased their target price for the stock from $40.00 to $39.00 in a report on Friday, April 28th. They noted that the move was a valuation call. Finally, Truist Financial lowered their price target on International Paper from $38.00 to $29.00 and set a hold rating on the stock in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, International Paper has a consensus rating of Hold and a consensus price target of $35.82.

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International Paper Stock Down 1.3 %

IP opened at $34.06 on Friday. International Paper has a one year low of $29.00 and a one year high of $44.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.12 and a current ratio of 1.59. The stock’s fifty day moving average is $33.04 and its 200-day moving average is $34.13. The company has a market capitalization of $11.78 billion, a PE ratio of 11.70 and a beta of 1.06.

International Paper (NYSE:IP – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.17. International Paper had a return on equity of 12.22% and a net margin of 5.14%. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 2.21 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.43%. International Paper’s dividend payout ratio is currently 63.57%.

Insider Buying and Selling

In related news, VP Holly G. Goughnour sold 2,500 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.70, for a total transaction of $89,250.00. Following the completion of the transaction, the vice president now owns 8,219 shares of the company’s stock, valued at approximately $293,418.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Allison B. Magness sold 3,300 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $31.75, for a total transaction of $104,775.00. Following the transaction, the senior vice president now directly owns 21,055 shares in the company, valued at $668,496.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 2,500 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.70, for a total value of $89,250.00. Following the transaction, the vice president now owns 8,219 shares in the company, valued at $293,418.30. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in IP. CI Investments Inc. grew its stake in shares of International Paper by 975.2% in the 4th quarter. CI Investments Inc. now owns 5,333 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 4,837 shares during the period. MV Capital Management Inc. grew its stake in shares of International Paper by 299.0% in the 1st quarter. MV Capital Management Inc. now owns 2,749 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 2,060 shares during the period. DnB Asset Management AS grew its stake in shares of International Paper by 104.9% in the 1st quarter. DnB Asset Management AS now owns 201,269 shares of the basic materials company’s stock valued at $7,258,000 after purchasing an additional 103,040 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in International Paper during the 1st quarter worth approximately $198,000. Finally, SG Americas Securities LLC grew its position in International Paper by 205.4% during the 1st quarter. SG Americas Securities LLC now owns 35,060 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 23,580 shares during the last quarter. 85.80% of the stock is currently owned by institutional investors.

About International Paper

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International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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