Adams Natural Resources Fund Inc. Boosts Stake in International Paper Company (NYSE:IP)

Adams Natural Resources Fund Inc. increased its holdings in International Paper Company (NYSE:IP - Free Report) by 2,859.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 636,192 shares of the basic materials company's stock after purchasing an additional 614,692 shares during the period. International Paper makes up about 4.3% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 8th biggest holding. Adams Natural Resources Fund Inc. owned approximately 0.12% of International Paper worth $33,941,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. FMR LLC raised its stake in shares of International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after acquiring an additional 8,720,575 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of International Paper by 134.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock worth $212,522,000 after purchasing an additional 2,266,762 shares during the period. Norges Bank bought a new stake in shares of International Paper in the fourth quarter worth about $109,201,000. Finally, Slate Path Capital LP purchased a new position in International Paper during the 4th quarter valued at about $102,796,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Activity at International Paper

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

International Paper Stock Up 0.5%

International Paper stock traded up $0.21 during mid-day trading on Thursday, hitting $46.61. The company had a trading volume of 3,392,276 shares, compared to its average volume of 7,100,488. International Paper Company has a 12 month low of $41.50 and a 12 month high of $60.36. The company has a market capitalization of $24.61 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. The stock's 50 day moving average price is $47.02 and its two-hundred day moving average price is $51.45. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. As a group, sell-side analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.97%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IP shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Wells Fargo & Company reissued an "underweight" rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. 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 target price for the company. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Finally, Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $54.54.

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.