International Paper (NYSE:IP) SVP Jeanmichel Ribieras sold 4,417 shares of the firm’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $57.75, for a total value of $255,081.75. Following the transaction, the senior vice president now directly owns 61,333 shares in the company, valued at $3,541,980.75. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of IP stock traded up $0.22 during trading hours on Wednesday, reaching $57.97. The company’s stock had a trading volume of 111,129 shares, compared to its average volume of 2,679,810. The stock has a market capitalization of $22.66 billion, a P/E ratio of 20.05 and a beta of 1.05. International Paper has a one year low of $38.38 and a one year high of $65.27. The firm’s fifty day simple moving average is $59.15 and its 200 day simple moving average is $58.81. The company has a current ratio of 1.42, a quick ratio of 1.20 and a debt-to-equity ratio of 0.85.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 29th. The basic materials company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. International Paper had a return on equity of 16.67% and a net margin of 5.33%. The company had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.60 billion. As a group, equities research analysts forecast that International Paper will post 4.87 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Strategic Blueprint LLC purchased a new position in International Paper during the second quarter valued at $29,000. Providence Capital Advisors LLC purchased a new position in shares of International Paper in the second quarter worth $31,000. Stonebridge Capital Advisors LLC purchased a new position in shares of International Paper in the first quarter worth $35,000. E Fund Management Co. Ltd. purchased a new position in shares of International Paper in the first quarter worth $37,000. Finally, Logan Capital Management Inc. purchased a new position in shares of International Paper in the first quarter worth $39,000. Institutional investors and hedge funds own 81.58% of the company’s stock.
A number of equities analysts recently weighed in on IP shares. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $58.00 to $80.00 in a report on Monday, June 28th. Jefferies Financial Group raised their price objective on International Paper from $78.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 4th. Zacks Investment Research cut International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a report on Monday, July 19th. Wells Fargo & Company raised their price objective on International Paper from $66.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, June 7th. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, June 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.17.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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