International Paper (NYSE:IP) Short Interest Update

by · The Markets Daily

International Paper (NYSE:IP – Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 42,830,000 shares, a growth of 7.2% from the September 30th total of 39,950,000 shares. Based on an average trading volume of 4,130,000 shares, the short-interest ratio is currently 10.4 days. Currently, 12.5% of the shares of the stock are short sold.

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 shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,840 shares of company stock worth $906,386. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in International Paper in the second quarter valued at approximately $26,000. Crewe Advisors LLC purchased a new position in shares of International Paper in the 1st quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper during the 2nd quarter worth $37,000. Eastern Bank purchased a new stake in International Paper in the third quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in International Paper in the third quarter valued at $42,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IP. Truist Financial boosted their target price on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

Check Out Our Latest Stock Report on IP

International Paper Stock Up 13.3 %

Shares of NYSE:IP traded up $6.51 during trading on Thursday, hitting $55.54. The company’s stock had a trading volume of 13,960,996 shares, compared to its average volume of 5,318,593. The company has a market capitalization of $19.29 billion, a PE ratio of 45.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $56.26. The business has a 50 day moving average price of $48.35 and a two-hundred day moving average price of $44.79.

International Paper (NYSE:IP – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the business earned $0.64 EPS. International Paper’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that International Paper will post 1.53 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 151.64%.

About International Paper

(Get Free Report)

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.

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