First Trust Direct Indexing L.P. Boosts Stake in International Paper (NYSE:IP)

First Trust Direct Indexing L.P. raised its holdings in International Paper (NYSE:IP) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,160 shares of the basic materials company’s stock after acquiring an additional 645 shares during the period. First Trust Direct Indexing L.P.’s holdings in International Paper were worth $259,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Manchester Capital Management LLC bought a new position in shares of International Paper during the third quarter valued at about $25,000. CVA Family Office LLC purchased a new stake in International Paper during the 4th quarter valued at $27,000. Venturi Wealth Management LLC boosted its holdings in shares of International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 753 shares during the period. Princeton Global Asset Management LLC bought a new stake in shares of International Paper in the fourth quarter worth about $36,000. Finally, First Command Advisory Services Inc. purchased a new position in International Paper during the 3rd quarter valued at about $39,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 5.2 %

Shares of IP opened at $38.84 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $36.84 and a 200-day moving average price of $35.88. The firm has a market capitalization of $13.49 billion, a P/E ratio of 79.27 and a beta of 1.01. International Paper has a 12-month low of $29.00 and a 12-month high of $41.30.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Equities research analysts expect that International Paper will post 1.88 earnings per share for the current year.

Insider Transactions at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 9,400 shares of company stock valued at $331,402 in the last 90 days. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Truist Financial reissued a “buy” rating and issued a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. Finally, Wells Fargo & Company dropped their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, International Paper has a consensus rating of “Hold” and an average price target of $38.57.

About International Paper

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.