International Paper (NYSE:IP) Trading Down 4%

International Paper (NYSE:IP) shares dropped 4% on Monday . The stock traded as low as $31.77 and last traded at $32.05. Approximately 758,918 shares changed hands during trading, a decline of 75% from the average daily volume of 3,072,252 shares. The stock had previously closed at $33.38.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IP. Truist Financial upgraded International Paper from a “hold” rating to a “buy” rating and boosted their price target for the company from $30.00 to $43.00 in a research report on Thursday, September 21st. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Jefferies Financial Group lowered their price objective on shares of International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, October 18th. Finally, Citigroup upped their price objective on shares of International Paper from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Hold” and a consensus target price of $36.89.

International Paper Stock Performance

The stock’s 50 day moving average price is $34.23 and its two-hundred day moving average price is $33.25. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 45.11 and a beta of 1.05.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. International Paper had a net margin of 1.31% and a return on equity of 10.79%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts forecast that International Paper will post 2.1 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is currently 250.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IP. Desjardins Global Asset Management Inc. raised its position in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. MRP Capital Investments LLC acquired a new position in shares of International Paper in the first quarter worth $25,000. Manchester Capital Management LLC purchased a new stake in shares of International Paper in the third quarter valued at $25,000. Venturi Wealth Management LLC boosted its stake in shares of International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 753 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new stake in International Paper during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 80.78% of the company’s stock.

International Paper Company Profile

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.