International Paper (NYSE:IP) CAO Sells 3,500 Shares

Key Points

• International Paper CAO Holly Goughnour sold 3,500 shares at an average price of $41.96, generating $146,860. Her remaining stake declined 9.27% to 34,248 shares.
• International Paper reported quarterly EPS of $0.04, beating estimates by $0.08, but revenue fell 11.3% year over year to $6 billion and the company posted a negative net margin.
• The company declared a quarterly dividend of $0.4625 per share, equivalent to $1.85 annually and a 4.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $48.75.

International Paper Company (NYSE:IP - Get Free Report) CAO Holly Goughnour sold 3,500 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

International Paper Stock Performance

IP stock traded up $0.96 during trading on Tuesday, reaching $42.41. The company had a trading volume of 4,250,275 shares, compared to its average volume of 6,777,302. The firm has a 50-day simple moving average of $37.08 and a 200-day simple moving average of $38.00. The company has a market cap of $22.46 billion, a price-to-earnings ratio of -6.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the firm earned $0.20 EPS. International Paper's revenue was down 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that International Paper Company will post 1.38 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.4%. International Paper's payout ratio is -28.37%.

Hedge Funds Weigh In On International Paper

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MCF Advisors LLC raised its position in shares of International Paper by 36.7% during the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company's stock worth $34,000 after purchasing an additional 229 shares during the period. Rothschild Investment LLC grew its position in International Paper by 4.2% in the 4th quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock valued at $236,000 after purchasing an additional 242 shares during the period. Independent Advisor Alliance increased its stake in International Paper by 3.3% during the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 244 shares in the last quarter. Horizon Investments LLC raised its holdings in International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock worth $333,000 after buying an additional 267 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in International Paper by 1.3% during the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company's stock worth $853,000 after buying an additional 298 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on International Paper from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Friday. Seaport Research Partners upgraded International Paper from a "neutral" rating to a "buy" rating and set a $39.00 price target on the stock in a research note on Friday, May 1st. Wells Fargo & Company increased their price objective on International Paper from $42.00 to $46.00 and gave the company an "overweight" rating in a report on Friday. Truist Financial restated a "buy" rating and issued a $49.00 price objective (up from $46.00) on shares of International Paper in a research note on Friday. Finally, Loop Capital set a $61.00 target price on International Paper in a report on Tuesday, July 28th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and an average price target of $48.75.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source