International Paper (NYSE:IP) Hits New 52-Week High at $41.36

International Paper (NYSE:IP) shares hit a new 52-week high during trading on Monday . The company traded as high as $41.36 and last traded at $41.26, with a volume of 1613830 shares changing hands. The stock had previously closed at $40.64.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IP. Truist Financial reissued a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Finally, Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.57.

International Paper Price Performance

The firm’s 50 day moving average price is $37.71 and its two-hundred day moving average price is $36.35. 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 has a market cap of $14.62 billion, a PE ratio of 85.45 and a beta of 1.01.

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

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.39%. International Paper’s payout ratio is 377.55%.

Insiders Place Their Bets

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 10,000 shares of company stock worth $355,348 in the last quarter. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Paper

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Franklin Resources Inc. increased its stake in International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Greenhaven Associates Inc. raised its position in International Paper by 0.3% during the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after purchasing an additional 25,640 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Paper by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock worth $319,844,000 after purchasing an additional 35,930 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 82.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock worth $237,336,000 after purchasing an additional 2,755,441 shares in the last quarter. Institutional investors 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.