International Paper (NYSE:IP) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management grew its position in International Paper (NYSE:IPGet Rating) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,231 shares of the basic materials company’s stock after acquiring an additional 1,307 shares during the quarter. Brookstone Capital Management’s holdings in International Paper were worth $1,291,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IP. Bivin & Associates Inc. purchased a new stake in shares of International Paper during the fourth quarter worth approximately $30,000. Desjardins Global Asset Management Inc. raised its stake in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. Mystic Asset Management Inc. purchased a new stake in shares of International Paper during the fourth quarter worth approximately $42,000. Westside Investment Management Inc. raised its position in International Paper by 112.4% in the first quarter. Westside Investment Management Inc. now owns 945 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 500 shares in the last quarter. Finally, Bank of New Hampshire purchased a new position in International Paper in the first quarter worth $47,000. 85.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. KeyCorp cut their price objective on International Paper from $41.00 to $37.00 and set an “underweight” rating for the company in a research report on Friday, July 1st. Jefferies Financial Group cut International Paper from a “hold” rating to an “underperform” rating and dropped their price target for the company from $40.00 to $31.00 in a research report on Friday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price target on International Paper from $48.00 to $44.00 in a research report on Tuesday, July 19th. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and dropped their price target for the company from $53.00 to $46.00 in a research report on Tuesday, June 21st. Finally, Wells Fargo & Company cut International Paper from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $58.00 to $47.00 in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.40.

International Paper Stock Down 1.6 %

Shares of NYSE:IP opened at $34.26 on Thursday. The stock’s 50-day moving average price is $41.83 and its two-hundred day moving average price is $44.26. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. International Paper has a 12-month low of $34.24 and a 12-month high of $57.86. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 7.12 and a beta of 0.90.

International Paper (NYSE:IPGet Rating) last released its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.35 billion. International Paper had a return on equity of 17.25% and a net margin of 8.60%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. On average, research analysts forecast that International Paper will post 4.54 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were issued a $0.4625 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.40%. International Paper’s dividend payout ratio (DPR) is 38.46%.

Insider Transactions at International Paper

In related news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total transaction of $167,270,477.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

About International Paper

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International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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