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Short Interest in International Paper (NYSE:IP) Drops By 13.4%

Last updated on Sunday, November 22, 2020 | 2020 MarketBeat

International Paper (NYSE:IP) was the target of a large decrease in short interest in October. As of October 30th, there was short interest totalling 10,250,000 shares, a decrease of 13.4% from the October 15th total of 11,830,000 shares. Based on an average daily trading volume, of 2,990,000 shares, the short-interest ratio is presently 3.4 days. Approximately 2.6% of the shares of the stock are sold short.

In other International Paper news, SVP Gregory T. Wanta sold 7,500 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $47.93, for a total value of $359,475.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company's stock.

Large investors have recently bought and sold shares of the company. Advisory Alpha LLC acquired a new position in International Paper during the third quarter valued at $30,000. St. Johns Investment Management Company LLC increased its holdings in International Paper by 1,555.6% in the second quarter. St. Johns Investment Management Company LLC now owns 745 shares of the basic materials company's stock valued at $26,000 after buying an additional 700 shares in the last quarter. Nachman Norwood & Parrott Inc purchased a new position in International Paper in the third quarter valued at $31,000. Sandy Spring Bank increased its holdings in International Paper by 278.6% in the second quarter. Sandy Spring Bank now owns 867 shares of the basic materials company's stock valued at $31,000 after buying an additional 638 shares in the last quarter. Finally, NEXT Financial Group Inc purchased a new position in International Paper in the third quarter valued at $39,000. Institutional investors and hedge funds own 80.97% of the company's stock.

Shares of NYSE IP opened at $49.43 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.09. The company has a market cap of $19.43 billion, a P/E ratio of 39.54 and a beta of 1.11. International Paper has a 1 year low of $26.38 and a 1 year high of $50.61. The firm has a 50-day simple moving average of $45.29 and a two-hundred day simple moving average of $38.43.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 29th. The basic materials company reported $0.71 EPS for the quarter, topping the Zacks' consensus estimate of $0.48 by $0.23. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.11 billion. International Paper had a net margin of 2.37% and a return on equity of 17.27%. The company's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. As a group, equities research analysts expect that International Paper will post 2.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.5125 per share. The ex-dividend date is Friday, November 13th. This represents a $2.05 annualized dividend and a dividend yield of 4.15%. International Paper's payout ratio is currently 46.28%.

IP has been the subject of several research reports. Morgan Stanley increased their price objective on shares of International Paper from $29.00 to $37.00 and gave the company an "underweight" rating in a report on Monday, October 26th. DA Davidson reissued a "buy" rating on shares of International Paper in a report on Friday, July 31st. Smith Barney Citigroup raised shares of International Paper from a "neutral" rating to a "buy" rating in a report on Monday, November 16th. Argus downgraded shares of International Paper from a "buy" rating to a "hold" rating in a report on Friday, August 21st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of International Paper from a "neutral" rating to a "buy" rating in a report on Monday, November 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. The stock presently has an average rating of "Hold" and a consensus price target of $45.42.

International Paper Company Profile

International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and the Americas. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.

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