Brookstone Capital Management Trims Stake in International Paper (NYSE:IP)

Brookstone Capital Management reduced its position in International Paper (NYSE:IP) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 229,753 shares of the basic materials company’s stock after selling 8,687 shares during the period. Brookstone Capital Management’s holdings in International Paper were worth $12,365,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its position in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the period. Geode Capital Management LLC increased its position in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after acquiring an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its position in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. increased its position in International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,800 shares of company stock worth $100,848 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

IP opened at $53.85 on Tuesday. The stock has a market cap of $18.71 billion, a P/E ratio of 46.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $56.17 and its 200 day simple moving average is $50.33. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations 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 was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, equities analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.