International Paper (NYSE:IP) Sees Large Decline in Short Interest

International Paper (NYSE:IP) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 37,640,000 shares, a drop of 21.0% from the January 31st total of 47,670,000 shares. Based on an average daily volume of 7,860,000 shares, the days-to-cover ratio is presently 4.8 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on IP shares. 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 report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Institutional Investors Weigh In On International Paper

Several institutional investors and hedge funds have recently modified their holdings of the stock. Total Wealth Planning & Management Inc. bought a new stake in shares of International Paper during the fourth quarter valued at approximately $403,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of International Paper during the fourth quarter valued at approximately $9,950,000. Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the fourth quarter valued at approximately $37,000. Yoffe Investment Management LLC bought a new stake in shares of International Paper during the fourth quarter valued at approximately $378,000. Finally, LifeWealth Investments LLC bought a new stake in shares of International Paper during the fourth quarter valued at approximately $432,000. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

NYSE:IP traded down $4.05 during trading hours on Tuesday, hitting $51.26. 7,847,347 shares of the stock traded hands, compared to its average volume of 10,984,959. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a market cap of $26.97 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock has a 50 day moving average price of $55.65 and a 200 day moving average price of $53.21.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

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.