International Paper (NYSE:IP) Plans $0.46 Quarterly Dividend

International Paper (NYSE:IP) declared a quarterly dividend on Monday, October 14th,RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.4625 per share by the basic materials company on Monday, December 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, November 15th.

International Paper has decreased its dividend payment by an average of 3.4% annually over the last three years. International Paper has a dividend payout ratio of 61.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Paper to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 63.6%.

International Paper Stock Performance

Shares of IP opened at $56.38 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $19.59 billion, a P/E ratio of 48.19 and a beta of 1.02. The company’s fifty day moving average is $49.78 and its two-hundred day moving average is $46.20. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. On average, sell-side analysts predict that International Paper will post 1.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted their target price 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. Truist Financial reiterated a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.54.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,840 shares of company stock worth $910,826. Corporate insiders own 0.55% 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.