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

International Paper (NYSE:IP) was the target of a large 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 short-interest ratio is presently 11.3 days. Currently, 15.0% of the shares of the company are sold short.

International Paper Stock Up 0.8 %

IP traded up $0.45 during trading hours on Friday, hitting $58.83. 1,819,835 shares of the company’s stock were exchanged, compared to its average volume of 4,966,464. The firm has a market cap of $20.44 billion, a P/E ratio of 50.28 and a beta of 1.02. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $52.39 and a 200 day moving average of $48.03.

International Paper (NYSE:IP) last posted its quarterly earnings data 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 return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Announces Dividend

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

Insider Buying and Selling at International Paper

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,440 shares of company stock worth $505,070. Company insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

Large investors have recently made changes to their positions in the company. Aptus Capital Advisors LLC increased its holdings in International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after buying an additional 785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of International Paper by 5.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock worth $45,788,000 after acquiring an additional 49,125 shares in the last quarter. Curi RMB Capital LLC purchased a new position in shares of International Paper in the 3rd quarter valued at about $4,870,000. Diamond Hill Capital Management Inc. raised its position in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in International Paper by 29.6% during the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock worth $15,704,000 after purchasing an additional 73,367 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IP shares. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report 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 on the stock in a research note on Wednesday, August 14th. Finally, Truist Financial reissued a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper has an average 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.