Brooklyn Investment Group Has $47,000 Stake in International Paper (NYSE:IP)

Brooklyn Investment Group lifted its position in shares of International Paper (NYSE:IP) by 75.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 882 shares of the basic materials company’s stock after buying an additional 380 shares during the quarter. Brooklyn Investment Group’s holdings in International Paper were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in International Paper during the 3rd quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new stake in International Paper during the third quarter worth approximately $28,000. Versant Capital Management Inc increased its holdings in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares in the last quarter. City State Bank lifted its stake in International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after buying an additional 350 shares during the period. Finally, Eastern Bank bought a new position in shares of International Paper during the 3rd quarter worth approximately $40,000. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $56.94 on Monday. The stock has a market cap of $19.78 billion, a price-to-earnings ratio of 48.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The firm’s 50-day simple moving average is $56.01 and its 200 day simple moving average is $50.69.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. As a group, research analysts anticipate that International Paper will post 1.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

IP has been the subject of several research analyst reports. Truist Financial lifted their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.99.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company’s stock, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,800 shares of company stock valued at $100,848 in the last three months. 0.55% of the stock is currently owned by 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.