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

Baird Financial Group Inc. decreased its stake in International Paper (NYSE:IP) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Sierra Ocean LLC bought a new position in International Paper during the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in International Paper during the fourth quarter worth about $26,000. Picton Mahoney Asset Management boosted its holdings in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 295 shares during the period. Finally, City State Bank boosted its holdings in shares of International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 350 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 1.4%

Shares of NYSE:IP opened at $44.31 on Monday. The company has a fifty day moving average of $48.93 and a 200-day moving average of $53.44. The company has a market capitalization of $23.39 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 52-week low of $38.10 and a 52-week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share 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 business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IP shares. Wells Fargo & Company reiterated an “underweight” rating and issued a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday. Truist Financial dropped their price target on shares of International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Citigroup started 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 for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper has an average rating of “Hold” and a consensus target price of $54.21.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

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.