Brookstone Capital Management Has $541,000 Position in International Paper Company $IP

Brookstone Capital Management reduced its holdings in International Paper Company (NYSE:IP) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,561 shares of the basic materials company’s stock after selling 1,147 shares during the quarter. Brookstone Capital Management’s holdings in International Paper were worth $541,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rise Advisors LLC lifted its stake in shares of International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after buying an additional 346 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of International Paper in the first quarter valued at about $34,000. Citizens National Bank Trust Department bought a new stake in shares of International Paper in the first quarter valued at about $37,000. Quintet Private Bank Europe S.A. bought a new stake in shares of International Paper in the second quarter valued at about $37,000. Finally, Private Wealth Asset Management LLC lifted its stake in shares of International Paper by 78.7% in the second quarter. Private Wealth Asset Management LLC now owns 997 shares of the basic materials company’s stock valued at $47,000 after buying an additional 439 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE:IP opened at $48.86 on Monday. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The firm has a 50 day moving average of $47.20 and a 200-day moving average of $47.88. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $25.80 billion, a P/E ratio of -488.60, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue was up 42.9% on a year-over-year basis. As a group, sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. International Paper’s dividend payout ratio (DPR) is currently -1,850.00%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IP. Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. JPMorgan Chase & Co. cut shares of International Paper from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Jefferies Financial Group reduced their target price on shares of International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of International Paper in a research note on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.85.

Insider Buying and Selling at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by corporate 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.