International Paper (NYSE:IP) Sees Significant Growth in Short Interest

International Paper (NYSE:IP) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 51,490,000 shares, an increase of 16.3% from the October 31st total of 44,260,000 shares. Based on an average trading volume of 4,550,000 shares, the days-to-cover ratio is currently 11.3 days. Currently, 15.0% of the shares of the stock are sold short.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,040 shares of company stock valued at $540,104. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after buying an additional 177 shares during the period. Empirical Finance LLC grew its position in shares of International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 239 shares during the period. Retirement Systems of Alabama raised its position in shares of International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc boosted its stake in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after buying an additional 296 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Up 0.5 %

IP stock traded up $0.29 during mid-day trading on Tuesday, reaching $58.75. 2,803,556 shares of the company traded hands, compared to its average volume of 5,275,297. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $52.79 and its 200 day moving average price is $48.34. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 50.21 and a beta of 1.02. International Paper has a fifty-two week low of $32.70 and a fifty-two week 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, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

Analysts Set New Price Targets

IP has been the subject of a number of recent research reports. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Finally, Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.54.

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.