Edgestream Partners L.P. Has $5.91 Million Holdings in International Paper (NYSE:IP)

Edgestream Partners L.P. grew its position in shares of International Paper (NYSE:IP) by 114.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 121,064 shares of the basic materials company’s stock after acquiring an additional 64,605 shares during the period. Edgestream Partners L.P.’s holdings in International Paper were worth $5,914,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IP. First Horizon Advisors Inc. lifted its stake in International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after purchasing an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc increased its position in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 0.8 %

Shares of IP stock opened at $58.85 on Friday. The firm has a market capitalization of $20.45 billion, a P/E ratio of 50.30 and a beta of 1.02. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The firm’s fifty day simple moving average is $52.39 and its 200 day simple moving average is $47.97. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.14%. International Paper’s dividend payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Finally, Truist Financial restated a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.54.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,440 shares of company stock valued at $505,070. 0.55% of the stock is owned by corporate insiders.

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.