International Paper Company (NYSE:IP) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in International Paper by 26.9%, selling 7,421 shares and owning 20,140 shares valued at approximately $1,074,000 as of the last filing.
• International Paper reported an EPS of $0.20, missing analysts' expectations of $0.38, despite a 42.9% year-over-year increase in revenue to $6.77 billion.
• The company announced a quarterly dividend of $0.4625, with a dividend yield of 3.9% and an ex-dividend date of August 15th.

Atria Wealth Solutions Inc. reduced its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,140 shares of the basic materials company's stock after selling 7,421 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in International Paper were worth $1,074,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in IP. Price T Rowe Associates Inc. MD grew its holdings in shares of International Paper by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock worth $2,561,651,000 after buying an additional 368,648 shares during the last quarter. Capital Research Global Investors increased its stake in International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after buying an additional 12,191,361 shares during the period. Bank of New York Mellon Corp raised its position in International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock worth $914,712,000 after buying an additional 2,782,042 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in International Paper by 17.6% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 4,958,177 shares of the basic materials company's stock worth $264,519,000 after buying an additional 740,932 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of International Paper by 134.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock worth $212,522,000 after acquiring an additional 2,266,762 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Down 1.4%

Shares of NYSE IP traded down $0.65 during midday trading on Friday, hitting $46.65. The stock had a trading volume of 1,611,483 shares, compared to its average volume of 6,533,134. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of -466.50, a PEG ratio of 0.61 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a fifty day moving average price of $49.17 and a 200 day moving average price of $50.17.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. International Paper's quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. On average, analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper's dividend payout ratio (DPR) is currently -1,850.00%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IP. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. UBS Group assumed coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.46.

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.