Short Interest in International Paper (NYSE:IP) Expands By 26.7%

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IP shares. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Truist Financial upped their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.96.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 3,000 shares of company stock valued at $129,630 over the last three months. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in International Paper during the 2nd quarter valued at about $26,000. Arkadios Wealth Advisors lifted its holdings in International Paper by 13.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 33,257 shares of the basic materials company’s stock valued at $1,435,000 after buying an additional 3,824 shares in the last quarter. HB Wealth Management LLC bought a new stake in International Paper during the 2nd quarter valued at about $237,000. 1834 Investment Advisors Co. bought a new stake in International Paper during the 2nd quarter valued at about $506,000. Finally, Atomi Financial Group Inc. lifted its holdings in International Paper by 12.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 6,307 shares of the basic materials company’s stock valued at $272,000 after buying an additional 682 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP traded down $0.24 on Tuesday, reaching $46.40. The company’s stock had a trading volume of 254,701 shares, compared to its average volume of 5,790,031. International Paper has a 52-week low of $31.76 and a 52-week high of $47.40. The company has a market cap of $16.12 billion, a P/E ratio of 95.18 and a beta of 1.06. The company has a 50-day simple moving average of $44.83 and a 200 day simple moving average of $39.55. 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 (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. As a group, equities research analysts anticipate that International Paper will post 1.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.99%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

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.