International Paper (NYSE:IP) Short Interest Up 26.7% in July

International Paper (NYSE:IP) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 28,690,000 shares, an increase of 26.7% from the June 30th total of 22,650,000 shares. Currently, 8.5% of the shares of the company are short sold. Based on an average daily trading volume, of 6,990,000 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on IP. Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Wells Fargo & Company upped their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Truist Financial upped their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.96.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the transaction, the director now owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 3,000 shares of company stock worth $129,630. 0.55% of the stock is owned by insiders.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. Innealta Capital LLC purchased a new position in International Paper during the second quarter worth about $26,000. CVA Family Office LLC purchased a new position in International Paper during the fourth quarter worth about $27,000. MCF Advisors LLC lifted its position in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the period. Finally, Crewe Advisors LLC purchased a new position in International Paper during the first quarter worth about $29,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

IP traded down $0.38 during trading on Tuesday, reaching $46.26. 504,036 shares of the stock were exchanged, compared to its average volume of 5,791,750. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 1 year low of $31.76 and a 1 year high of $47.40. The business’s 50 day moving average price is $44.83 and its two-hundred day moving average price is $39.55. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 95.18 and a beta of 1.06.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that International Paper will post 1.89 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.00%. International Paper’s dividend payout ratio is currently 377.55%.

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.