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

Brookstone Capital Management decreased its holdings in shares of International Paper (NYSE:IP) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,753 shares of the basic materials company’s stock after selling 8,687 shares during the quarter. Brookstone Capital Management owned about 0.07% of International Paper worth $12,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 177 shares during the last quarter. Empirical Finance LLC grew its stake in shares of International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after buying an additional 224 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares in the last quarter. Altrius Capital Management Inc grew its stake in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after buying an additional 296 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of International Paper by 5.7% in the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock valued at $284,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,800 shares of company stock valued at $100,848 in the last ninety days. Insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.4 %

NYSE:IP opened at $53.85 on Tuesday. The firm has a market cap of $18.71 billion, a PE ratio of 46.03 and a beta of 1.03. The stock has a fifty day moving average price of $56.17 and a 200 day moving average price of $50.33. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. 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 results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Sell-side analysts anticipate that International Paper will post 1.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IP shares. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Finally, Truist Financial lifted their price objective on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.99.

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.