International Paper (NYSE:IP) Short Interest Up 16.3% in November

International Paper (NYSE:IP) was the target of a significant increase in short interest during 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. Currently, 15.0% of the shares of the stock are sold short. Based on an average trading volume of 4,550,000 shares, the days-to-cover ratio is currently 11.3 days.

International Paper Stock Up 0.5 %

Shares of NYSE IP traded up $0.29 during mid-day trading on Tuesday, hitting $58.75. 2,803,556 shares of the stock traded hands, compared to its average volume of 5,275,297. The stock has a fifty day moving average price of $52.79 and a 200-day moving average price of $48.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The company 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 52 week low of $32.70 and a 52 week high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping 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 firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 3.15%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,040 shares of company stock valued at $540,104 over the last 90 days. 0.55% of the stock is owned by insiders.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 177 shares in the last quarter. Empirical Finance LLC raised its position in shares of International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in International Paper by 20.7% in the 3rd 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 in the last quarter. Retirement Systems of Alabama grew its position in International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares during the last quarter. Finally, Altrius Capital Management Inc increased its stake in International Paper by 0.3% during the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IP shares. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Argus upgraded 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. Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.