Atria Wealth Solutions Inc. Sells 7,421 Shares of International Paper Company (NYSE:IP)

Atria Wealth Solutions Inc. cut its stake in International Paper Company (NYSE:IP) by 26.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new position in shares of International Paper in the fourth quarter worth approximately $37,000. Citizens National Bank Trust Department purchased a new position in shares of International Paper in the first quarter worth approximately $37,000. Transce3nd LLC purchased a new position in shares of International Paper in the fourth quarter worth approximately $38,000. Grove Bank & Trust boosted its holdings in shares of International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock worth $40,000 after buying an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new position in shares of International Paper in the first quarter worth approximately $42,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

IP stock opened at $47.12 on Tuesday. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The company’s fifty day moving average price is $49.11 and its 200-day moving average price is $50.28. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The company has a market capitalization of $24.88 billion, a PE ratio of -471.20, a price-to-earnings-growth ratio of 0.57 and a beta of 1.04.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same period last year, the firm posted $0.55 EPS. International Paper’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, equities analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. International Paper’s payout ratio is -1,850.00%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IP shares. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. UBS Group began coverage on shares of International Paper in a report on Wednesday, June 4th. They set a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of International Paper from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $43.00 price target (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.03.

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.