Atria Investments Inc Raises Holdings in International Paper (NYSE:IP)

Atria Investments Inc increased its position in International Paper (NYSE:IP) by 58.7% in the 3rd quarter, Holdings Channel reports. The firm owned 20,192 shares of the basic materials company’s stock after buying an additional 7,465 shares during the period. Atria Investments Inc’s holdings in International Paper were worth $986,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Raymond James & Associates increased its stake in International Paper by 29.6% in the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock valued at $15,704,000 after purchasing an additional 73,367 shares during the period. Comerica Bank increased its position in International Paper by 23.6% in the 1st quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock valued at $6,110,000 after acquiring an additional 29,904 shares during the period. QRG Capital Management Inc. raised its stake in International Paper by 3.8% during the 3rd quarter. QRG Capital Management Inc. now owns 279,288 shares of the basic materials company’s stock valued at $13,643,000 after acquiring an additional 10,260 shares during the last quarter. Waverly Advisors LLC lifted its position in International Paper by 745.4% during the 1st quarter. Waverly Advisors LLC now owns 72,103 shares of the basic materials company’s stock worth $2,813,000 after acquiring an additional 63,574 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of International Paper by 172.7% in the 2nd quarter. SG Americas Securities LLC now owns 124,700 shares of the basic materials company’s stock valued at $5,381,000 after purchasing an additional 78,980 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,840 shares of company stock worth $910,826 in the last ninety days. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $57.58 on Monday. The stock has a fifty day moving average price of $50.36 and a 200 day moving average price of $46.66. 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 cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.21%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IP. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Royal Bank of Canada lifted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial reissued a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, 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 research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper 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.