Baird Financial Group Inc. Sells 1,692 Shares of International Paper (NYSE:IP)

Baird Financial Group Inc. lessened its stake in shares of International Paper (NYSE:IP) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 50,759 shares of the basic materials company’s stock after selling 1,692 shares during the period. Baird Financial Group Inc.’s holdings in International Paper were worth $2,732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in International Paper in the 4th quarter valued at about $26,000. Picton Mahoney Asset Management lifted its position in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares in the last quarter. Venturi Wealth Management LLC lifted its position in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 295 shares in the last quarter. Finally, City State Bank lifted its position in International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 1.4%

Shares of IP stock opened at $44.31 on Monday. The company has a 50 day moving average of $48.93 and a 200-day moving average of $53.44. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $38.10 and a 12-month high of $60.36. The firm has a market cap of $23.39 billion, a P/E ratio of 28.22, a PEG ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. Sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $40.00 price target (down previously from $45.00) on shares of International Paper in a research report on Friday. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Truist Financial dropped their target price on shares of International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.21.

International Paper 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.