International Paper (NYSE:IP) Hits New 1-Year High at $49.39

International Paper (NYSE:IP)’s stock price reached a new 52-week high on Friday . The stock traded as high as $49.39 and last traded at $49.33, with a volume of 375445 shares trading hands. The stock had previously closed at $47.94.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and raised their price target for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada upped their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Stock Up 2.0 %

The company has a market cap of $16.99 billion, a PE ratio of 97.84 and a beta of 1.04. The stock has a 50-day moving average of $46.23 and a 200-day moving average of $42.08. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. Sell-side analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.78%. International Paper’s payout ratio is 377.55%.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the transaction, the director now directly owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. Insiders sold a total of 16,400 shares of company stock valued at $782,856 over the last quarter. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Paper

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bluefin Capital Management LLC bought a new stake in shares of International Paper in the second quarter worth about $227,000. Sanctuary Advisors LLC purchased a new stake in International Paper in the 2nd quarter worth approximately $1,104,000. Point72 Asset Management L.P. grew its position in shares of International Paper by 246.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 486,046 shares of the basic materials company’s stock worth $20,973,000 after buying an additional 818,235 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of International Paper during the second quarter valued at approximately $539,000. Finally, NewEdge Advisors LLC raised its holdings in shares of International Paper by 1,011.5% during the second quarter. NewEdge Advisors LLC now owns 31,190 shares of the basic materials company’s stock valued at $1,346,000 after acquiring an additional 28,384 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

About International Paper

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.