Holly G. Goughnour Sells 7,500 Shares of International Paper (NYSE:IP) Stock

International Paper (NYSE:IP - Get Free Report) CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Paper Trading Down 3.2 %

NYSE IP traded down $1.45 during trading hours on Monday, hitting $44.39. The company's stock had a trading volume of 3,021,928 shares, compared to its average volume of 8,295,781. The firm has a market capitalization of $23.43 billion, a P/E ratio of 28.27, a PEG ratio of 0.39 and a beta of 1.03. The stock has a fifty day moving average of $49.99 and a 200 day moving average of $53.56. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $36.22 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the business posted $0.17 earnings per share. The company's revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Paper

Several hedge funds have recently modified their holdings of the company. Sierra Ocean LLC bought a new position in shares of International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in International Paper in the fourth quarter worth $26,000. Picton Mahoney Asset Management grew its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Versant Capital Management Inc boosted its position in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after buying an additional 448 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Ratings Changes

IP has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Wells Fargo & Company lowered their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial lowered their target price 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, Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.77.

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.

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