International Paper (NYSE:IP) SVP Joseph R. Saab Sells 9,000 Shares

Key Points

• Joseph Saab, SVP of International Paper, sold 9,000 shares at an average price of $45.53, reducing his ownership by 24.54% to 27,673 shares valued at approximately $1.26 million.
• International Paper's quarterly earnings report showed $0.20 earnings per share, missing estimates by $0.18, although revenue increased by 42.9% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.4625, translating to an annualized dividend of $1.85 and a yield of 3.9%, though with a negative payout ratio of -1,850.00%.

International Paper Company (NYSE:IP - Get Free Report) SVP Joseph R. Saab sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares of the company's stock, valued at approximately $1,259,951.69. This trade represents a 24.54% 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 Trading Down 0.3%

NYSE IP traded down $0.16 on Monday, reaching $46.27. The company had a trading volume of 1,621,255 shares, compared to its average volume of 6,171,093. The firm has a market cap of $24.43 billion, a price-to-earnings ratio of -462.70, a P/E/G ratio of 0.52 and a beta of 1.05. The business has a 50 day moving average of $48.94 and a two-hundred day moving average of $48.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business's revenue was up 42.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. Analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. International Paper's dividend payout ratio is currently -1,850.00%.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Man Group plc increased its holdings in shares of International Paper by 32.2% in the 4th quarter. Man Group plc now owns 94,069 shares of the basic materials company's stock worth $5,063,000 after acquiring an additional 22,925 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of International Paper by 12.5% in the fourth quarter. Rafferty Asset Management LLC now owns 30,157 shares of the basic materials company's stock worth $1,623,000 after buying an additional 3,344 shares during the period. Toronto Dominion Bank raised its position in International Paper by 0.6% during the fourth quarter. Toronto Dominion Bank now owns 115,533 shares of the basic materials company's stock valued at $6,218,000 after acquiring an additional 697 shares in the last quarter. State of Wyoming boosted its stake in shares of International Paper by 208.8% in the 4th quarter. State of Wyoming now owns 1,470 shares of the basic materials company's stock valued at $79,000 after purchasing an additional 994 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in International Paper by 29.7% during the 4th quarter. Two Sigma Investments LP now owns 665,038 shares of the basic materials company's stock worth $35,792,000 after buying an additional 152,374 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Wells Fargo & Company restated an "underweight" rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Zacks Research lowered International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. Finally, UBS Group initiated coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $55.65.

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.