International Paper (NYSE:IP) Given New $53.00 Price Target at Truist Financial

International Paper (NYSE:IP) had its price objective trimmed by Truist Financial from $55.00 to $53.00 in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other equities research analysts have also weighed in on IP. UBS Group dropped their price objective on shares of International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Seaport Res Ptn lowered shares of International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of International Paper in a research note on Saturday, September 27th. Finally, Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.46.

International Paper Price Performance

IP opened at $45.65 on Monday. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of -456.50, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10. International Paper has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The company’s 50-day moving average price is $47.17 and its 200 day moving average price is $47.98. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper’s revenue was up 42.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. As a group, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.1%. International Paper’s dividend payout ratio (DPR) is -1,850.00%.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after acquiring an additional 21,428,455 shares in the last quarter. Norges Bank bought a new position in shares of International Paper in the second quarter valued at approximately $281,735,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Paper by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock valued at $2,763,426,000 after acquiring an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 19.4% in the first quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company’s stock valued at $914,712,000 after acquiring an additional 2,782,042 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of International Paper by 230.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company’s stock valued at $211,543,000 after acquiring an additional 2,763,634 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.