Graphic Packaging Holding (NYSE:GPK) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,951 shares of the industrial products company's stock after purchasing an additional 30,796 shares during the period. Pinebridge Investments L.P.'s holdings in Graphic Packaging were worth $2,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its stake in Graphic Packaging by 55.4% in 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. Crews Bank & Trust acquired a new position in Graphic Packaging during the 4th quarter valued at approximately $32,000. Avior Wealth Management LLC raised its stake in Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock worth $35,000 after acquiring an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Graphic Packaging by 92.7% in 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 period. Finally, UMB Bank n.a. raised its position in Graphic Packaging by 58.2% during the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock worth $41,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Price Performance

Shares of NYSE:GPK traded up $0.36 during midday trading on Friday, hitting $21.73. The company's stock had a trading volume of 4,021,234 shares, compared to its average volume of 2,450,334. The company has a market cap of $6.56 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. 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 Holding has a 12-month low of $20.86 and a 12-month high of $30.70. The business's 50 day simple moving average is $25.55 and its 200 day simple moving average is $27.26.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.14 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. On average, analysts forecast that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.02%. Graphic Packaging's dividend payout ratio is currently 20.37%.

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

Analyst Upgrades and Downgrades

GPK has been the subject of several recent research reports. Raymond James reissued an "outperform" rating and set a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a report on Friday. Citigroup reaffirmed a "neutral" rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Robert W. Baird decreased their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. 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 research report on Tuesday, April 22nd. Finally, Wells Fargo & Company upgraded Graphic Packaging from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.31.

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.