The stock of International Paper Company (NYSE:IP) last traded at $32.19, up 1.19% from the previous session.
IP stock price is now 0.72% away from the 50-day moving average and -7.42% away from the 200-day moving average. The market capitalization of the company currently stands at $11.06B.
With the price target reduced from $40 to $39, RBC Capital Mkts Upgraded its rating from Sector Perform to Outperform for International Paper Company (NYSE: IP).
In other news, Magness Allison B., Senior Vice President sold 3,300 shares of the company’s stock on Jun 16. The stock was sold for $104,786 at an average price of $31.75. Upon completion of the transaction, the Senior Vice President now directly owns 21,055 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 21, SVP, GC and Corp. Secretary Saab Joseph R. sold 1,705 shares of the business’s stock. A total of $60,273 was realized by selling the stock at an average price of $35.35. This leaves the insider owning 1,671 shares of the company worth $53789.49. Insiders disposed of 270,844 shares of company stock worth roughly $8.72 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IP stock. A new stake in International Paper Company shares was purchased by MIZUHO MARKETS CAYMAN LP during the first quarter worth $144,274,000. LAVACA CAPITAL LLC invested $144,180,000 in shares of IP during the first quarter. In the first quarter, OFI INVEST ASSET MANAGEMENT acquired a new stake in International Paper Company valued at approximately $82,076,000. EMPOWER ADVISORY GROUP, LLC acquired a new stake in IP for approximately $47,108,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in IP valued at around $8,649,000 in the second quarter. In total, there are 1,129 active investors with 88.10% ownership of the company’s stock.
With an opening price of $31.86 on Monday morning, International Paper Company (NYSE: IP) set off the trading day. During the past 12 months, International Paper Company has had a low of $29.00 and a high of $45.17. As of last week, the company has a debt-to-equity ratio of 0.70, a current ratio of 1.60, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $16.53B, which is based on a 7.53 price-to-earnings ratio, a 0.39 price-to-earnings-growth ratio, and a beta of 1.05. The fifty day moving average price for IP is $31.87 and a two-hundred day moving average price translates $34.73 for the stock.
The latest earnings results from International Paper Company (NYSE: IP) was released for Mar, 2023. According to the Packaging & Containers Company, earnings per share came in at $0.53, beating analysts’ expectations of $0.45 by 0.08. This compares to $0.25 EPS in the same period last year. The net profit margin was 6.30% and return on equity was 14.90% for IP. The company reported revenue of $5.02 billion for the quarter, compared to $5.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.14 percent. For the current quarter, analysts expect IP to generate $4.91B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 05/26/2023 were paid a $0.4625 dividend. On an annualized basis, this represents a $1.85 dividend and a 5.75% percent yield. There was an ex-dividend date of 05/25/2023 for this dividend. In terms of dividend payout ratio, IP is presently at 50.80%.
International Paper Company(IP) 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. Its Global Cellulose Fibers segment provides fluff, market, and specialty pulps that are used in absorbent hygiene products, such as baby diapers, feminine care, adult incontinence, and other non-woven products; tissue and paper products; and non-absorbent end applications, including textiles, filtration, construction material, paints and coatings applications. In addition, it sells its products directly to end users and converters, as well as through agents, resellers, and distributors. The company was founded in 1898 and is headquartered in Memphis, Tennessee.
