Atria Investments Inc Raises Holdings in International Paper Company $IP

Atria Investments Inc grew its stake in International Paper Company (NYSE:IP) by 67.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,128 shares of the basic materials company’s stock after acquiring an additional 6,929 shares during the quarter. Atria Investments Inc’s holdings in International Paper were worth $802,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Rise Advisors LLC grew its holdings in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 346 shares during the last quarter. AlphaQuest LLC boosted its holdings in International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after buying an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of International Paper in the second quarter valued at approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in shares of International Paper during the first quarter worth about $34,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in shares of International Paper during the second quarter worth approximately $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IP. Royal Bank Of Canada lowered their target price on International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Truist Financial lowered their price objective on International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Jefferies Financial Group dropped their target price on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, September 26th. Seaport Res Ptn lowered International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company lowered their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.67.

International Paper Stock Performance

Shares of International Paper stock opened at $38.13 on Friday. The business’s fifty day simple moving average is $45.56 and its 200-day simple moving average is $47.41. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The firm has a market cap of $20.13 billion, a PE ratio of -381.30, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. International Paper Company has a 52 week low of $35.79 and a 52 week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). The company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm’s quarterly revenue was up 56.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. Equities analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s dividend payout ratio is currently -70.88%.

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.