First Trust Direct Indexing L.P. Has $453,000 Stock Position in International Paper (NYSE:IP)

First Trust Direct Indexing L.P. lifted its position in International Paper (NYSE:IP) by 22.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,280 shares of the basic materials company’s stock after buying an additional 1,687 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in International Paper were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of IP. Innealta Capital LLC bought a new position in International Paper during the second quarter worth $26,000. Crewe Advisors LLC bought a new position in International Paper during the first quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in International Paper during the second quarter worth $37,000. Eastern Bank bought a new stake in International Paper in the 3rd quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC bought a new stake in International Paper in the 3rd quarter valued at $42,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.4 %

IP opened at $55.77 on Monday. The firm’s 50-day simple moving average is $48.48 and its 200-day simple moving average is $45.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.53. International Paper has a twelve month low of $31.76 and a twelve month high of $56.26. The firm has a market cap of $19.37 billion, a price-to-earnings ratio of 47.67 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities research analysts anticipate that International Paper will post 1.54 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IP. Truist Financial reissued a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday. Argus raised shares of 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, Wells Fargo & Company boosted their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Three 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 stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average price target of $51.96.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $938,486 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

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.