Handelsbanken Fonder AB Decreases Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Handelsbanken Fonder AB lessened its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 17.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,095,152 shares of the industrial products company's stock after selling 643,000 shares during the period. Handelsbanken Fonder AB owned approximately 1.03% of Graphic Packaging worth $80,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management grew its stake in shares of Graphic Packaging by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock worth $30,000 after purchasing an additional 394 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after buying an additional 689 shares during the last quarter. Mizuho Bank Ltd. purchased a new position in shares of Graphic Packaging during the fourth quarter worth approximately $43,000. UMB Bank n.a. increased its holdings in shares of Graphic Packaging by 42.3% in the 1st quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock valued at $55,000 after acquiring an additional 632 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in Graphic Packaging in the 4th quarter valued at $79,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Graphic Packaging Stock Performance

NYSE:GPK traded down $0.56 during mid-day trading on Friday, reaching $21.11. The stock had a trading volume of 3,302,155 shares, compared to its average volume of 2,560,826. Graphic Packaging Holding has a twelve month low of $20.86 and a twelve month high of $30.70. The business has a 50 day simple moving average of $23.29 and a 200 day simple moving average of $25.85. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 2.10 and a beta of 0.74. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued 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 return on equity of 25.96% and a net margin of 7.47%. The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the company posted $0.66 earnings per share. The business's quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

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

Graphic Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, June 13th. Graphic Packaging's payout ratio is 21.46%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James reaffirmed an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Royal Bank of Canada reduced their price objective on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. UBS Group assumed coverage on Graphic Packaging in a research report on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price objective for the company. Finally, Truist Financial dropped their target price on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Five equities research 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, Graphic Packaging has a consensus rating of "Hold" and an average price target of $28.53.

About Graphic Packaging

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.