Aquatic Capital Management LLC Acquires New Position in Graphic Packaging Holding (NYSE:GPK)

Aquatic Capital Management LLC purchased a new stake in Graphic Packaging Holding (NYSE:GPK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,990 shares of the industrial products company's stock, valued at approximately $434,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPK. Oxford Asset Management LLP purchased a new position in Graphic Packaging during the fourth quarter worth $429,000. Crossingbridge Advisors LLC bought a new stake in Graphic Packaging in the fourth quarter worth about $1,086,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Graphic Packaging during the fourth quarter valued at approximately $1,327,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Graphic Packaging by 5.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 14,600,941 shares of the industrial products company's stock worth $396,562,000 after buying an additional 788,066 shares during the period. Finally, Pinebridge Investments L.P. lifted its stake in shares of Graphic Packaging by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 102,951 shares of the industrial products company's stock worth $2,796,000 after acquiring an additional 30,796 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Stock Up 1.5 %

Shares of GPK traded up $0.32 during mid-day trading on Monday, hitting $22.13. 5,018,916 shares of the company traded hands, compared to its average volume of 2,466,405. The business has a 50 day moving average of $25.35 and a 200 day moving average of $27.12. The company has a market capitalization of $6.68 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. Graphic Packaging Holding has a 1-year low of $20.86 and a 1-year high of $30.70. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company's revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Graphic Packaging Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, April 5th. Investors of record on Saturday, March 15th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. Graphic Packaging's dividend payout ratio is 20.37%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GPK shares. Truist Financial reduced their price target on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Citigroup restated a "neutral" rating and set a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Raymond James reaffirmed an "outperform" rating and issued a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a research note on Friday. Wells Fargo & Company upgraded shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Robert W. Baird cut their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Graphic Packaging Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.