International Paper (NYSE:IP) Director Kathryn D. Sullivan Sells 600 Shares

International Paper (NYSE:IP - Get Free Report) Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $34.94, for a total transaction of $20,964.00. Following the transaction, the director now directly owns 40,588 shares of the company's stock, valued at $1,418,144.72. The sale was disclosed in a document filed with the SEC, which is available through this link.

International Paper Trading Up 1.0 %

Shares of NYSE IP traded up $0.34 during trading on Wednesday, hitting $35.28. 6,696,926 shares of the company traded hands, compared to its average volume of 5,084,196. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The company has a 50-day moving average price of $36.63 and a 200-day moving average price of $35.81. The firm has a market capitalization of $12.25 billion, a P/E ratio of 72.00 and a beta of 0.99. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business's revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, equities analysts predict that International Paper will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Argus cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Bank of America raised shares of International Paper from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th. Truist Financial reaffirmed a "buy" rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, International Paper presently has an average rating of "Hold" and an average price target of $37.13.

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its holdings in International Paper by 421.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,963 shares of the basic materials company's stock worth $353,000 after buying an additional 8,051 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of International Paper by 21.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 305,665 shares of the basic materials company's stock worth $10,842,000 after purchasing an additional 53,196 shares during the last quarter. Accurate Wealth Management LLC increased its position in shares of International Paper by 31.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 16,628 shares of the basic materials company's stock worth $590,000 after purchasing an additional 3,938 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $207,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of International Paper by 1.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 94,796 shares of the basic materials company's stock worth $3,362,000 after purchasing an additional 1,289 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Company Profile

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.