International Paper (NYSE:IP) Shares Bought by Brookstone Capital Management

Brookstone Capital Management grew its position in International Paper (NYSE:IP) by 1,759.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 251,355 shares of the basic materials company’s stock after purchasing an additional 237,837 shares during the period. Brookstone Capital Management owned approximately 0.07% of International Paper worth $9,808,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the period. CVA Family Office LLC acquired a new position in shares of International Paper in the 4th quarter valued at about $27,000. Assetmark Inc. lifted its holdings in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after buying an additional 649 shares during the period. Princeton Global Asset Management LLC acquired a new stake in International Paper during the fourth quarter worth about $36,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in International Paper during the fourth quarter valued at approximately $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Down 7.2 %

IP stock opened at $43.27 on Friday. International Paper has a 52 week low of $30.78 and a 52 week high of $47.40. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $41.44 and a 200-day simple moving average of $38.30. The stock has a market capitalization of $15.03 billion, a P/E ratio of 88.30 and a beta of 1.06.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. International Paper’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Equities analysts forecast that International Paper will post 1.85 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 24th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 4.28%. International Paper’s payout ratio is currently 377.55%.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Truist Financial restated a “buy” rating and set a $52.00 price target on shares of International Paper in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 3,600 shares of company stock worth $144,744. Corporate insiders own 0.55% of the company’s stock.

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.