International Paper (NYSE:IP) Given “Buy” Rating at Truist Financial

Truist Financial restated their buy rating on shares of International Paper (NYSE:IP) in a report issued on Friday morning,Benzinga reports. They currently have a $64.00 price objective on the basic materials company’s stock, down from their previous price objective of $65.00.

IP has been the subject of a number of other research reports. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Royal Bank of Canada raised their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

International Paper Stock Down 2.5 %

NYSE:IP opened at $55.65 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The company has a market cap of $19.33 billion, a PE ratio of 47.56 and a beta of 1.03. The company’s 50 day moving average is $56.06 and its two-hundred day moving average is $51.62.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. Analysts anticipate that International Paper will post 1.07 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp increased its holdings in International Paper by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 31,775 shares of the basic materials company’s stock worth $1,371,000 after acquiring an additional 1,420 shares in the last quarter. Creative Planning increased its stake in shares of International Paper by 6.1% during the second quarter. Creative Planning now owns 68,425 shares of the basic materials company’s stock worth $2,953,000 after purchasing an additional 3,947 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of International Paper by 4.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,426 shares of the basic materials company’s stock worth $1,658,000 after purchasing an additional 1,490 shares during the last quarter. NewEdge Advisors LLC lifted its stake in International Paper by 1,011.5% in the 2nd quarter. NewEdge Advisors LLC now owns 31,190 shares of the basic materials company’s stock valued at $1,346,000 after buying an additional 28,384 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in International Paper in the 2nd quarter worth about $1,104,000. 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.