International Paper (NYSE:IP – Get Free Report) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 8,580,000 shares, a growth of 16.1% from the December 31st total of 7,390,000 shares. Based on an average trading volume of 3,090,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.5% of the company’s stock are short sold.
International Paper Price Performance
Shares of NYSE IP opened at $37.57 on Monday. The stock has a fifty day moving average price of $36.35 and a 200 day moving average price of $34.96. International Paper has a 1-year low of $29.00 and a 1-year high of $41.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.75 and a quick ratio of 1.25. The company has a market cap of $13.00 billion, a PE ratio of 50.77 and a beta of 1.03.
International Paper (NYSE:IP – Get Free Report) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.81 billion. International Paper had a net margin of 1.31% and a return on equity of 10.79%. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. Sell-side analysts forecast that International Paper will post 2.1 EPS for the current year.
International Paper Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, February 21st. International Paper’s payout ratio is 250.00%.
Hedge Funds Weigh In On International Paper
A number of large investors have recently modified their holdings of IP. Bank Julius Baer & Co. Ltd Zurich grew its position in International Paper by 118,877.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,449,752 shares of the basic materials company’s stock worth $205,167,000 after buying an additional 6,444,331 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of International Paper in the 3rd quarter worth approximately $144,509,000. Norges Bank purchased a new position in International Paper in the 4th quarter valued at approximately $83,530,000. BlackRock Inc. raised its holdings in International Paper by 4.0% during the first quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after purchasing an additional 1,436,757 shares during the last quarter. Finally, Barclays PLC boosted its position in International Paper by 310.8% during the second quarter. Barclays PLC now owns 1,451,344 shares of the basic materials company’s stock worth $46,167,000 after purchasing an additional 1,098,032 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Truist Financial upped their target price on International Paper from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Jefferies Financial Group reduced their price objective on International Paper from $33.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Hold” and a consensus target price of $37.22.
About International Paper
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company’s Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.