International Paper (NYSE:IP) Director Kathryn D. Sullivan Sells 600 Shares

International Paper (NYSE:IP) Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $37.78, for a total transaction of $22,668.00. Following the sale, the director now owns 41,188 shares of the company’s stock, valued at approximately $1,556,082.64. The sale was disclosed in a document filed with the SEC, which is available through this link.

International Paper Trading Down 2.4 %

Shares of NYSE IP opened at $35.91 on Wednesday. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The business has a fifty day moving average price of $36.70 and a 200 day moving average price of $35.84. The stock has a market capitalization of $12.47 billion, a P/E ratio of 43.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Equities research analysts expect that International Paper will post 1.88 EPS for the current fiscal year.

Institutional Trading of International Paper

Several hedge funds and other institutional investors have recently bought and sold shares of IP. Desjardins Global Asset Management Inc. grew its stake in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of International Paper by 37.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 295 shares in the last quarter. Czech National Bank boosted its stake in shares of International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after acquiring an additional 295 shares in the last quarter. Kentucky Retirement Systems grew its position in shares of International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the period. Finally, Pinnacle West Asset Management Inc. increased its stake in shares of International Paper by 3.9% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 300 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research reports. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and upped their target price for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Truist Financial restated a “buy” rating and set a $40.00 price target on shares of International Paper in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company lowered their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Hold” and an average price target of $37.13.

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.