International Paper’s (IP) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of International Paper (NYSE:IP) in a research report sent to investors on Friday,Benzinga reports. They currently have a $64.00 price objective on the basic materials company’s stock, down from their prior price objective of $65.00.

A number of other brokerages have also recently weighed in on IP. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.88.

International Paper Stock Down 2.5 %

Shares of NYSE IP opened at $55.65 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $56.06 and a 200-day moving average of $51.62. The firm has a market capitalization of $19.33 billion, a price-to-earnings ratio of 47.56 and a beta of 1.03. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 6.49% and a net margin of 2.25%. Sell-side analysts expect that International Paper will post 1.07 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is currently 158.12%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently modified their holdings of IP. First Horizon Advisors Inc. raised its stake in International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares in the last quarter. AlphaMark Advisors LLC raised its position in shares of International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after acquiring an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares in the last quarter. Finally, Empirical Finance LLC grew its stake in International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. 81.95% of the stock is currently 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.