Brooklyn Investment Group Acquires 380 Shares of International Paper (NYSE:IP)

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

Other hedge funds have also bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in shares of International Paper in the third quarter worth $24,327,000. Aptus Capital Advisors LLC boosted its stake in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 785 shares during the period. Wedmont Private Capital purchased a new position in International Paper during the 4th quarter valued at about $376,000. Curi RMB Capital LLC bought a new stake in shares of International Paper during the third quarter valued at about $4,870,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of International Paper by 5.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock worth $45,788,000 after buying an additional 49,125 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Up 1.2 %

Shares of NYSE:IP opened at $56.94 on Monday. The firm has a fifty day moving average of $56.01 and a 200 day moving average of $50.69. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a market capitalization of $19.78 billion, a PE ratio of 48.67 and a beta of 1.03.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm 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 was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. As a group, research analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 1,800 shares of company stock valued at $100,848. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IP shares. Truist Financial upped their target price on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BNP Paribas lowered 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.99.

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.