Graphic Packaging Holding Company $GPK Position Increased by Causeway Capital Management LLC

Key Points

• Causeway Capital increased its stake in Graphic Packaging by 251.3% in Q3 to 2,601,576 shares (about $50.9M), representing roughly 0.88% of the company.
• CEO Robbert Rietbroek bought 44,278 shares at $11.32 each on March 4, a purchase worth approximately $501,227 disclosed to the SEC.
• Wall Street sentiment is negative: the stock has an average rating of "Reduce" and a consensus price target of $16.63 following multiple downgrades and lower price objectives.

Causeway Capital Management LLC increased its position in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 251.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,601,576 shares of the industrial products company's stock after acquiring an additional 1,861,097 shares during the quarter. Causeway Capital Management LLC owned 0.88% of Graphic Packaging worth $50,913,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GPK. Transce3nd LLC lifted its stake in Graphic Packaging by 8.4% in the 2nd quarter. Transce3nd LLC now owns 6,443 shares of the industrial products company's stock worth $136,000 after acquiring an additional 500 shares in the last quarter. Elevation Point Wealth Partners LLC grew its position in Graphic Packaging by 4.3% during the second quarter. Elevation Point Wealth Partners LLC now owns 12,280 shares of the industrial products company's stock valued at $259,000 after purchasing an additional 510 shares in the last quarter. NewEdge Advisors LLC increased its stake in Graphic Packaging by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,379 shares of the industrial products company's stock valued at $387,000 after buying an additional 539 shares during the period. ProShare Advisors LLC lifted its position in Graphic Packaging by 4.6% in the 2nd quarter. ProShare Advisors LLC now owns 13,379 shares of the industrial products company's stock worth $282,000 after buying an additional 588 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Graphic Packaging by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 71,049 shares of the industrial products company's stock valued at $1,497,000 after acquiring an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

GPK has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Graphic Packaging from $12.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, February 4th. Zacks Research cut Graphic Packaging from a "hold" rating to a "strong sell" rating in a research note on Wednesday, January 14th. Truist Financial set a $14.00 price objective on shares of Graphic Packaging in a research report on Wednesday, February 4th. Citigroup decreased their target price on shares of Graphic Packaging from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada set a $13.00 price objective on shares of Graphic Packaging in a research note on Wednesday, February 4th. Eight analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Graphic Packaging has an average rating of "Reduce" and a consensus price target of $16.63.

Insider Transactions at Graphic Packaging

In related news, CEO Robbert Rietbroek purchased 44,278 shares of the stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $11.32 per share, with a total value of $501,226.96. Following the purchase, the chief executive officer directly owned 44,278 shares in the company, valued at $501,226.96. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.41% of the company's stock.

Graphic Packaging Stock Performance

NYSE:GPK opened at $10.76 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $3.18 billion, a PE ratio of 7.27 and a beta of 0.65. Graphic Packaging Holding Company has a 12-month low of $10.51 and a 12-month high of $28.19. The firm has a 50-day moving average price of $13.76 and a 200 day moving average price of $16.36.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its earnings results on Monday, March 2nd. The industrial products company reported $0.24 earnings per share for the quarter. Graphic Packaging had a net margin of 5.15% and a return on equity of 16.58%. The business had revenue of $2.10 billion for the quarter. Research analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Sunday, March 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.1%. Graphic Packaging's payout ratio is 29.73%.

About Graphic Packaging

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.

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