International Paper Co. (NYSE: IP) stock fell -2.40% on Monday to $32.58 against a previous-day closing price of $33.38. With 5.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.82 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $33.22 whereas the lowest price it dropped to was $31.76. The 52-week range on IP shows that it touched its highest point at $41.89 and its lowest point at $29.00 during that stretch. It currently has a 1-year price target of $35.94. With its current market cap of 11.27 billion, IP has annualized dividend of $1.85 while the current yield stands at 5.68%. Beta for the stock currently stands at 1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IP was up-trending over the past week, with a rise of 0.46%, but this was down by -2.25% over a month. Three-month performance dropped to -3.52% while six-month performance rose 2.68%. The stock lost -8.84% in the past year, while it has lost -5.92% so far this year. A look at the trailing 12-month EPS for IP yields 2.16 with Next year EPS estimates of 1.98. For the next quarter, that number is 0.35. This implies an EPS growth rate of -45.82% for this year and -5.65% for next year. EPS is expected to grow by 19.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.56%.
Float and Shares Shorts:
At present, 350.30 million IP shares are outstanding with a float of 342.01 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.09 million, which was 2.34% higher than short shares on Sep 28, 2023. In addition to Mr. Mark Stephan Sutton as the firm’s Chairman & CEO, Mr. Timothy S. Nicholls serves as its Senior VP & CFO.
Through their ownership of 87.58% of IP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.98% of IP, in contrast to 35.22% held by mutual funds. Shares owned by individuals account for 2.18%. As the largest shareholder in IP with 11.43% of the stake, The Vanguard Group, Inc. holds 39,547,592 shares worth 39,547,592. A second-largest stockholder of IP, BlackRock Fund Advisors, holds 26,064,139 shares, controlling over 7.53% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in IP, holding 22,667,936 shares or 6.55% stake. With a 3.13% stake in IP, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 10,822,338 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.41% of IP stock, is the second-largest Mutual Fund holder. It holds 8,352,397 shares valued at 281.73 million. iShares Tr. – Select Dividend ETF holds 2.32% of the stake in IP, owning 8,017,274 shares worth 270.42 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IP analysts setting a high price target of $41.00 and a low target of $30.00, the average target price over the next 12 months is $35.94. Based on these targets, IP could surge 25.84% to reach the target high and fall by -7.92% to reach the target low. Reaching the average price target will result in a growth of 10.31% from current levels.
Summary of Insider Activity:
Insiders traded IP stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 6,410 shares were bought while 1,028 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 572,909 while 264,717 shares were sold.