Atria Wealth Solutions Inc. Trims Holdings in International Paper Company $IP

Atria Wealth Solutions Inc. trimmed its position in shares of International Paper Company (NYSE:IP) by 75.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,024 shares of the basic materials company’s stock after selling 15,116 shares during the period. Atria Wealth Solutions Inc.’s holdings in International Paper were worth $235,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC boosted its position in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 346 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in International Paper during the 1st quarter valued at approximately $34,000. Citizens National Bank Trust Department bought a new stake in International Paper during the 1st quarter valued at approximately $37,000. Quintet Private Bank Europe S.A. bought a new stake in International Paper during the 2nd quarter valued at approximately $37,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in International Paper by 50.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 896 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 301 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IP. Jefferies Financial Group dropped their price target on International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. UBS Group dropped their price target on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 7th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. cut International Paper from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, International Paper presently has an average rating of “Hold” and a consensus price target of $53.85.

International Paper Price Performance

Shares of IP opened at $47.93 on Thursday. The firm has a market cap of $25.31 billion, a PE ratio of -479.30, a P/E/G ratio of 0.58 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $47.13 and a two-hundred day simple moving average of $47.82. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.9%. International Paper’s dividend payout ratio is currently -1,850.00%.

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.