Massachusetts Financial Services Co. MA Raises Stock Position in Graphic Packaging Holding Company (NYSE:GPK)

Massachusetts Financial Services Co. MA lifted its stake in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,351,192 shares of the industrial products company's stock after acquiring an additional 781,509 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.43% of Graphic Packaging worth $268,717,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its position 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 acquiring an additional 394 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after acquiring an additional 689 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Graphic Packaging during the first quarter worth approximately $42,000. Mizuho Bank Ltd. purchased a new position in shares of Graphic Packaging during the fourth quarter worth approximately $43,000. Finally, UMB Bank n.a. boosted its stake in shares of Graphic Packaging by 42.3% during the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 632 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Stock Performance

Shares of NYSE:GPK traded up $0.57 on Thursday, hitting $22.58. 1,990,869 shares of the company were exchanged, compared to its average volume of 2,620,400. Graphic Packaging Holding Company has a 1-year low of $20.86 and a 1-year high of $30.70. The stock's 50 day moving average price is $22.15 and its 200 day moving average price is $24.72. The company has a current ratio of 1.88, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $6.81 billion, a P/E ratio of 11.01 and a beta of 0.71.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). Graphic Packaging had a return on equity of 23.68% and a net margin of 7.15%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company's quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts predict that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

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

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 5th. Stockholders of record on Sunday, June 15th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 1.95%. Graphic Packaging's payout ratio is currently 21.46%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GPK. UBS Group began 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 on the stock. Royal Bank Of Canada dropped 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 note on Wednesday, June 18th. Bank of America dropped their price objective on shares of Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Truist Financial lowered their target price on shares of Graphic Packaging from $24.00 to $23.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Finally, Raymond James Financial restated an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.88.

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.