International Paper (NYSE:IP) Sets New 1-Year Low at $37.55

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International Paper Co (NYSE:IP) reached a new 52-week low during trading on Friday . The stock traded as low as $37.55 and last traded at $37.76, with a volume of 1812937 shares changing hands. The stock had previously closed at $38.86.

IP has been the topic of several recent research reports. UBS Group set a $50.00 price objective on shares of International Paper and gave the company a “buy” rating in a report on Monday, June 24th. Stephens downgraded shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a report on Monday, June 24th. Citigroup downgraded shares of International Paper from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $53.00 to $45.00 in a report on Thursday, July 11th. Finally, KeyCorp reissued a “sell” rating and issued a $38.00 price target on shares of International Paper in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.82.

The stock has a market capitalization of $15.19 billion, a PE ratio of 7.04, a P/E/G ratio of 1.71 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.46 and a quick ratio of 1.02. The business’s fifty day moving average price is $41.88 and its 200-day moving average price is $44.40.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts expect that International Paper Co will post 4.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s payout ratio is 37.59%.

In related news, SVP Sharon R. Ryan sold 22,507 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $44.97, for a total value of $1,012,139.79. Following the transaction, the senior vice president now directly owns 61,554 shares in the company, valued at $2,768,083.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc grew its position in International Paper by 0.6% during the first quarter. CIBC Asset Management Inc now owns 38,044 shares of the basic materials company’s stock valued at $1,760,000 after acquiring an additional 231 shares during the last quarter. Carroll Financial Associates Inc. grew its position in International Paper by 17.0% during the second quarter. Carroll Financial Associates Inc. now owns 1,671 shares of the basic materials company’s stock valued at $72,000 after acquiring an additional 243 shares during the last quarter. Cable Hill Partners LLC grew its position in International Paper by 17.5% during the first quarter. Cable Hill Partners LLC now owns 1,669 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 248 shares during the last quarter. Columbus Macro LLC grew its position in International Paper by 2.4% during the second quarter. Columbus Macro LLC now owns 10,706 shares of the basic materials company’s stock valued at $464,000 after acquiring an additional 255 shares during the last quarter. Finally, Vivaldi Capital Management LLC grew its position in International Paper by 5.8% during the second quarter. Vivaldi Capital Management LLC now owns 4,741 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 262 shares during the last quarter. Institutional investors own 82.02% of the company’s stock.

About International Paper (NYSE:IP)

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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