William Thomas Hamic Sells 24,500 Shares of International Paper (NYSE:IP) Stock

Key Points

• International Paper VP William Thomas Hamic sold 24,500 shares at an average price of $41.20, generating approximately $1.01 million. His remaining stake fell 18.64% to 106,952 shares.
• International Paper reported quarterly EPS of $0.04, beating estimates by $0.08, but revenue declined 11.3% year over year to $6 billion. The company also declared a quarterly dividend of $0.4625 per share, representing a 4.5% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $48.75 versus the stock’s recent price near $41.21; institutional investors own approximately 81.95% of shares.

International Paper Company (NYSE:IP - Get Free Report) VP William Thomas Hamic sold 24,500 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares of the company's stock, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

International Paper Stock Performance

NYSE:IP traded down $0.37 during mid-day trading on Monday, hitting $41.21. 2,561,138 shares of the company's stock traded hands, compared to its average volume of 6,698,165. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of -6.32 and a beta of 0.94. The firm has a 50 day moving average of $37.79 and a two-hundred day moving average of $37.95. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the business posted $0.20 EPS. The company's revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities analysts forecast that International Paper Company will post 1.38 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given 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 yield of 4.5%. International Paper's payout ratio is -28.37%.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of International Paper from a "neutral" rating to an "overweight" rating and increased their price target for the company from $51.00 to $61.00 in a report on Tuesday, July 28th. Bank of America downgraded shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a report on Tuesday, July 14th. UBS Group upped their price objective on shares of International Paper from $40.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Loop Capital set a $61.00 price objective on shares of International Paper in a research report on Tuesday, July 28th. Finally, Citigroup increased their target price on shares of International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of International Paper during the 2nd quarter worth approximately $1,940,896,000. Bank of New York Mellon Corp bought a new stake in International Paper in the second quarter valued at $689,498,000. Capital International Investors raised its stake in International Paper by 29.4% during the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company's stock worth $2,498,013,000 after acquiring an additional 14,422,616 shares in the last quarter. Franklin Resources Inc. raised its stake in International Paper by 81.6% during the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock worth $584,270,000 after acquiring an additional 6,663,986 shares in the last quarter. Finally, Norges Bank bought a new position in shares of International Paper during the fourth quarter valued at $250,093,000. 81.95% of the stock is owned by institutional investors.

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.

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