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. Approximately 15.0% of the shares of the company are sold short. Based on an average daily trading volume, of 4,550,000 shares, the short-interest ratio is presently 11.3 days.

Insiders Place Their Bets

In related news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. This trade represents a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,440 shares of company stock valued at $505,070 over the last quarter. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank increased its stake in shares of International Paper by 23.6% during the 1st quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock worth $6,110,000 after purchasing an additional 29,904 shares in the last quarter. Swedbank AB purchased a new stake in shares of International Paper in the first quarter valued at $4,490,000. Cetera Investment Advisers boosted its stake in shares of International Paper by 141.6% during the first quarter. Cetera Investment Advisers now owns 135,547 shares of the basic materials company’s stock valued at $5,289,000 after acquiring an additional 79,454 shares during the last quarter. Cetera Advisors LLC increased its position in International Paper by 54.7% during the 1st quarter. Cetera Advisors LLC now owns 70,052 shares of the basic materials company’s stock worth $2,733,000 after purchasing an additional 24,781 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in International Paper by 6.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,355 shares of the basic materials company’s stock valued at $5,150,000 after purchasing an additional 7,593 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

International Paper stock traded up $0.45 during mid-day trading on Friday, reaching $58.83. The company had a trading volume of 1,819,835 shares, compared to its average volume of 4,966,464. The stock’s 50-day simple moving average is $52.39 and its 200-day simple moving average is $48.03. The company has a market capitalization of $20.44 billion, a P/E ratio of 50.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts predict that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.14%. International Paper’s payout ratio is 158.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada raised their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BNP Paribas lowered 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. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

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.