International Paper (NYSE:IP) Shares Up 3.1%

International Paper (NYSE:IP)’s stock price rose 3.1% during trading on Thursday . The company traded as high as $43.42 and last traded at $42.95. Approximately 2,445,869 shares changed hands during trading, a decline of 55% from the average daily volume of 5,446,082 shares. The stock had previously closed at $41.64.

Analysts Set New Price Targets

IP has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Wells Fargo & Company cut their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $57.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

International Paper Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The stock’s fifty day simple moving average is $38.17 and its 200-day simple moving average is $36.52. The company has a market capitalization of $15.79 billion, a P/E ratio of 92.78 and a beta of 1.01.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, equities analysts forecast that International Paper will post 1.85 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, May 23rd. International Paper’s dividend payout ratio is 377.55%.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 9,400 shares of company stock worth $334,570 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Hedge funds have recently bought and sold shares of the company. Pathstone Family Office LLC acquired a new stake in International Paper in the 3rd quarter valued at about $1,164,000. StrategIQ Financial Group LLC acquired a new stake in International Paper in the 4th quarter valued at about $2,271,000. Franklin Resources Inc. lifted its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Metis Global Partners LLC lifted its position in International Paper by 6.7% during the third quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after acquiring an additional 1,376 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in International Paper by 12.9% during the fourth quarter. Quadrant Capital Group LLC now owns 4,141 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 474 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.