Atria Wealth Solutions Inc. Increases Stock Position in International Paper (NYSE:IP)

Atria Wealth Solutions Inc. lifted its position in shares of International Paper (NYSE:IP) by 31.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,561 shares of the basic materials company’s stock after purchasing an additional 6,670 shares during the period. Atria Wealth Solutions Inc.’s holdings in International Paper were worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IP. Sierra Ocean LLC bought a new position in International Paper in the 4th quarter valued at $26,000. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in International Paper during the third quarter valued at about $28,000. Finally, Versant Capital Management Inc increased its holdings in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. 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 report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $51.88.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.8 %

NYSE:IP opened at $55.62 on Monday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The stock’s fifty day moving average price is $55.59 and its two-hundred day moving average price is $52.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market cap of $19.32 billion, a P/E ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. International Paper’s dividend payout ratio (DPR) is currently 117.84%.

International Paper Company 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.