International Paper (IP) to Issue Quarterly Dividend of $0.46 on June 13th

International Paper (NYSE:IP) announced a quarterly dividend on Tuesday, May 13th, RTT News reports. Investors of record on Friday, May 23rd will be paid a dividend of 0.4625 per share by the basic materials company on Friday, June 13th. This represents a $1.85 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Friday, May 23rd.

International Paper has decreased its dividend payment by an average of 2.6% per year over the last three years. International Paper has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Analysts expect International Paper to earn $3.69 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 50.1%.

International Paper Stock Performance

Shares of IP stock opened at $50.03 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company’s fifty day moving average price is $48.71 and its two-hundred day moving average price is $53.36. The firm has a market capitalization of $26.41 billion, a P/E ratio of 31.87, a P/E/G ratio of 0.39 and a beta of 1.03. International Paper has a 12 month low of $41.00 and a 12 month high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the company posted $0.17 earnings per share. The business’s revenue was up 27.8% on a year-over-year basis. On average, research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in International Paper stock. Intech Investment Management LLC increased its stake in International Paper (NYSE:IP) by 100.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,025 shares of the basic materials company’s stock after acquiring an additional 16,055 shares during the quarter. Intech Investment Management LLC’s holdings in International Paper were worth $1,709,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IP shares. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Wells Fargo & Company reiterated an “underweight” rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Truist Financial cut their price objective on shares of International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.21.

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.