International Paper (NYSE:IP) Hits New 52-Week High at $41.14

Shares of International Paper (NYSE:IP) hit a new 52-week high during trading on Tuesday . The company traded as high as $41.14 and last traded at $41.11, with a volume of 169869 shares trading hands. The stock had previously closed at $40.85.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IP. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Truist Financial reaffirmed a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, March 20th. Wells Fargo & Company decreased their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.13.

International Paper Stock Up 3.1 %

The stock has a 50-day moving average of $35.96 and a 200-day moving average of $35.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 48.04 and a beta of 0.98.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. International Paper’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts predict that International Paper will post 1.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 22nd were given a dividend of $0.4625 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.85 dividend on an annualized basis and a yield of 4.70%. International Paper’s dividend payout ratio is currently 225.61%.

Insider Buying and Selling at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 7,600 shares of company stock worth $264,418. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in International Paper by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock worth $2,391,000 after purchasing an additional 3,209 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in International Paper by 4.5% in the 1st quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 369 shares during the period. Desjardins Global Asset Management Inc. grew its position in International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares in the last quarter. Cibc World Market Inc. purchased a new position in shares of International Paper during the first quarter worth about $206,000. Finally, Vontobel Holding Ltd. increased its stake in International Paper by 1.6% in the first quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock valued at $1,947,000 after acquiring an additional 676 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.