Wolverine Asset Management LLC Takes Position in Graphic Packaging Holding Company (NYSE:GPK)

Key Points

• Wolverine Asset Management LLC purchased 20,000 shares of Graphic Packaging Holding Company (NYSE:GPK), valued at approximately $519,000, in the first quarter of the year.
• Graphic Packaging announced a share repurchase plan allowing for the buyback of up to $1.50 billion in outstanding shares, indicating the board believes the stock is undervalued.
• The company declared a quarterly dividend of $0.11 per share, with a dividend yield of 1.9%, scheduled for payment on October 5th.

Wolverine Asset Management LLC acquired a new position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the industrial products company's stock, valued at approximately $519,000.

Several other large investors also recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new stake in shares of Graphic Packaging in the 1st quarter valued at $42,000. UMB Bank n.a. grew its position in shares of Graphic Packaging by 42.3% during the 1st quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock worth $55,000 after buying an additional 632 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Graphic Packaging in the 4th quarter valued at about $79,000. Signaturefd LLC raised its position in shares of Graphic Packaging by 554.5% in the 1st quarter. Signaturefd LLC now owns 3,639 shares of the industrial products company's stock valued at $94,000 after acquiring an additional 3,083 shares during the period. Finally, Transce3nd LLC bought a new position in Graphic Packaging during the 4th quarter worth approximately $161,000. Institutional investors own 99.67% of the company's stock.

Graphic Packaging Stock Down 1.9%

Shares of GPK traded down $0.44 on Thursday, hitting $22.69. 3,459,260 shares of the stock traded hands, compared to its average volume of 3,082,923. The company has a market capitalization of $6.72 billion, a PE ratio of 12.82, a P/E/G ratio of 7.69 and a beta of 0.73. Graphic Packaging Holding Company has a one year low of $20.86 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.56 and a current ratio of 1.43. The business has a 50 day simple moving average of $22.11 and a 200 day simple moving average of $24.09.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Graphic Packaging had a return on equity of 21.13% and a net margin of 6.18%. As a group, equities analysts forecast that Graphic Packaging Holding Company will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 5th. Shareholders of record on Monday, September 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.44 annualized dividend and a yield of 1.9%. Graphic Packaging's dividend payout ratio (DPR) is presently 24.86%.

Graphic Packaging declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 23.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James Financial restated an "outperform" rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Wells Fargo & Company increased their price objective on Graphic Packaging from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Bank of America reduced their price target on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada cut their price objective on shares of Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Finally, UBS Group assumed coverage on shares of Graphic Packaging in a research note on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.38.

Insider Transactions at Graphic Packaging

In other news, Director Philip R. Martens sold 7,015 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $21.80, for a total transaction of $152,927.00. Following the transaction, the director owned 26,811 shares in the company, valued at approximately $584,479.80. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by insiders.

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.