International Paper Company (NYSE:IP) Position Increased by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. boosted its holdings in shares of International Paper Company (NYSE:IP) by 2,859.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 636,192 shares of the basic materials company’s stock after buying an additional 614,692 shares during the quarter. International Paper accounts for about 4.3% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 8th largest holding. Adams Natural Resources Fund Inc. owned about 0.12% of International Paper worth $33,941,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Steph & Co. raised its holdings in shares of International Paper by 48.2% during the first quarter. Steph & Co. now owns 5,311 shares of the basic materials company’s stock valued at $283,000 after acquiring an additional 1,727 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its position in shares of International Paper by 51.7% in the first quarter. Chevy Chase Trust Holdings LLC now owns 276,773 shares of the basic materials company’s stock valued at $14,766,000 after buying an additional 94,369 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of International Paper by 64.0% in the first quarter. Asset Management One Co. Ltd. now owns 200,899 shares of the basic materials company’s stock valued at $10,718,000 after buying an additional 78,380 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of International Paper by 3.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 49,320 shares of the basic materials company’s stock worth $2,631,000 after buying an additional 1,680 shares in the last quarter. Finally, Kentucky Retirement Systems lifted its stake in International Paper by 49.7% in the 1st quarter. Kentucky Retirement Systems now owns 35,733 shares of the basic materials company’s stock worth $1,906,000 after purchasing an additional 11,862 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $46.62 on Wednesday. International Paper Company has a 52 week low of $41.50 and a 52 week high of $60.36. The stock has a market capitalization of $24.61 billion, a PE ratio of 39.85, a P/E/G ratio of 0.42 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $47.02 and a two-hundred day moving average of $51.48.

International Paper (NYSE:IP) last posted its quarterly earnings results 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). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the firm earned $0.17 EPS. The company’s revenue was up 27.8% on a year-over-year basis. On average, research analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, May 23rd. International Paper’s dividend payout ratio is presently 158.12%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IP. Truist Financial set a $59.00 price objective on International Paper in a research report on Wednesday, May 28th. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target for the company. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Paper has a consensus rating of “Hold” and a consensus price target of $54.54.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 31,525 shares of the company’s stock, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.