Brookstone Capital Management Cuts Holdings in International Paper (NYSE:IP)

Brookstone Capital Management reduced its position in International Paper (NYSE:IP – Free Report) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,848 shares of the basic materials company’s stock after selling 12,507 shares during the quarter. Brookstone Capital Management’s holdings in International Paper were worth $10,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. MCF Advisors LLC boosted its holdings in shares of International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of International Paper in the first quarter worth $29,000. Assetmark Inc. raised 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 worth $31,000 after buying an additional 649 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of International Paper in the second quarter valued at $37,000. 81.95% of the shares are currently held by hedge funds and other institutional investors.

Changes in Analyst Ratings

A number of equities analysts recently commented on IP shares. Royal Bank of Canada upped their target price on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Truist Financial upped their target price on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th . Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $50.21, according to MarketBeat.com.

See our latest international paper analysis

International paper price performance

Shares of International Paper stock opened at $47.08 on Friday. The firm has a market cap of $16.35 billion, a PE ratio of 96.08 and a beta of 1.06. International Paper has a 12-month low of $31.76 and a 12-month high of $47.40. The company has a quick ratio of 1.17, a current ratio of 1.59, and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $45.15 and two hundred day simple moving average is $40.37.

International Paper (NYSE:IP – Get Free Report ) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the company posted EPS of $0.59. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that International Paper will post 1.64 EPS for the current year.

International Paper announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15. This represents a dividend of $1.85 on an annualized basis and a yield of 3.93%. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Insider activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $44.58, for a total transaction of $26,748.00. Following the completion of the transaction, the director now directly owns 45,479 shares of the company’s stock, valued at approximately $2,027,453.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,600 shares of company stock worth $161,100 over the past three months. Company insiders own 0.55% of the company’s shares.

International paper profile

(Free Report)

International Paper Company manufactures and sells packaging and pulp products based on renewable fibers in North America, Latin America, Europe and North Africa. It operates through two segments, Industrial Packaging and Global Cellulosic Fibers. The company offers linerboard, medium, white, recycled linerboard, recycled medium and saturated kraft; and pulp for a wide range of applications such as diapers, towels and tissue products, feminine care, incontinence and other personal care products, as well as specialty pulps for use in textiles, building materials, paints, coatings and more .

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