First Trust Direct Indexing L.P. Increases Holdings in International Paper (NYSE:IP)

First Trust Direct Indexing L.P. raised its stake in shares of International Paper (NYSE:IP) by 9.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,160 shares of the basic materials company’s stock after buying an additional 645 shares during the quarter. 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 institutional investors and hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in International Paper during the 3rd quarter worth approximately $25,000. CVA Family Office LLC purchased a new stake in shares of International Paper in the fourth quarter worth $27,000. Venturi Wealth Management LLC grew its position in 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 buying an additional 753 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of International Paper in the 4th quarter valued at about $36,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of International Paper during the 3rd quarter valued at $39,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value 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 approximately $2,414,708. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 9,400 shares of company stock worth $331,402. Company insiders own 0.55% of the company’s stock.

International Paper Price Performance

Shares of IP opened at $38.84 on Wednesday. International Paper has a twelve month low of $29.00 and a twelve month high of $41.30. The company has a market capitalization of $13.49 billion, a P/E ratio of 79.27 and a beta of 1.01. The firm has a 50 day moving average of $36.84 and a 200 day moving average of $35.88. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its earnings results 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 firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. As a group, equities research analysts anticipate that International Paper will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Truist Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.57.

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.