International Paper (NYSE:IP) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. boosted its holdings in shares of International Paper (NYSE:IP) by 30.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,259 shares of the basic materials company’s stock after purchasing an additional 1,952 shares during the period. Atomi Financial Group Inc.’s holdings in International Paper were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after buying an additional 5,492,035 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after buying an additional 8,132,332 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in International Paper in the second quarter valued at $119,012,000. Samlyn Capital LLC purchased a new position in International Paper in the second quarter valued at $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new position in International Paper in the second quarter valued at $81,187,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 2.5 %

Shares of NYSE IP opened at $48.19 on Friday. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68. The stock has a market cap of $16.74 billion, a PE ratio of 39.50 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $47.61 and a 200 day moving average of $43.78.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts predict that International Paper will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the transaction, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $931,502 in the last ninety days. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on IP. Royal Bank of Canada boosted their target price on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company boosted their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Finally, Truist Financial upped their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

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.