Atomi Financial Group Inc. Increases Stake in International Paper (NYSE:IP)

Atomi Financial Group Inc. increased its holdings in shares of International Paper (NYSE:IP) by 30.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the period. Bank of New York Mellon Corp increased its stake in International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after buying an additional 8,132,332 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in International Paper during the 2nd quarter worth approximately $119,012,000. Samlyn Capital LLC purchased a new stake in International Paper during the 2nd quarter worth approximately $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new stake in International Paper during the 2nd quarter worth approximately $81,187,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on 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 sale, the director now owns 39,802 shares in the company, valued at $1,969,402.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on 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 sale, the director now owns 39,802 shares in the company, valued at $1,969,402.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $931,502 in the last ninety days. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Trading Up 2.5 %

NYSE IP opened at $48.19 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The firm’s fifty day moving average price is $47.61 and its 200 day moving average price is $43.78. The company has a market capitalization of $16.74 billion, a price-to-earnings ratio of 39.50 and a beta of 1.04. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68.

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

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.