Short Interest in International Paper (NYSE:IP) Expands By 66.1%

International Paper (NYSE:IP) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 10,600,000 shares, a growth of 66.1% from the March 31st total of 6,380,000 shares. Based on an average trading volume of 5,330,000 shares, the short-interest ratio is presently 2.0 days. Approximately 3.1% of the shares of the stock are short sold.

International Paper Trading Up 0.9 %

Shares of IP stock opened at $33.83 on Friday. The stock has a 50-day simple moving average of $36.64 and a 200 day simple moving average of $35.80. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The stock has a market capitalization of $11.75 billion, a P/E ratio of 41.26 and a beta of 0.99. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, sell-side analysts expect that International Paper will post 1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on IP. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and upped their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.13.

Insider Transactions at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 8,800 shares of company stock valued at $310,438. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IP. First National Trust Co bought a new position in shares of International Paper during the first quarter valued at $1,000,000. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of International Paper by 4.1% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 47,871 shares of the basic materials company’s stock worth $1,868,000 after purchasing an additional 1,864 shares during the last quarter. TI Trust Inc. bought a new stake in shares of International Paper in the 1st quarter worth about $314,000. Bank of New York Mellon Corp grew its holdings in shares of International Paper by 82.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock worth $237,336,000 after purchasing an additional 2,755,441 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of International Paper by 5.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 533,979 shares of the basic materials company’s stock worth $20,836,000 after purchasing an additional 27,826 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.