Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Graphic Packaging Holding (NYSE:GPK)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 91,539 shares of the industrial products company's stock, valued at approximately $2,486,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Truvestments Capital LLC bought a new stake in Graphic Packaging in the third quarter valued at approximately $30,000. Crews Bank & Trust bought a new stake in Graphic Packaging in the fourth quarter valued at approximately $32,000. Avior Wealth Management LLC raised its stake in Graphic Packaging by 2,484.0% in the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock valued at $35,000 after buying an additional 1,242 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Graphic Packaging by 92.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock valued at $39,000 after buying an additional 689 shares during the period. Finally, UMB Bank n.a. raised its stake in Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock valued at $41,000 after buying an additional 549 shares during the period. Institutional investors own 99.67% of the company's stock.

Graphic Packaging Price Performance

Graphic Packaging stock traded down $0.68 during mid-day trading on Friday, reaching $25.31. 3,958,391 shares of the company were exchanged, compared to its average volume of 2,332,764. The company has a fifty day simple moving average of $26.93 and a 200-day simple moving average of $28.18. Graphic Packaging Holding has a 12 month low of $25.13 and a 12 month high of $30.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The firm has a market cap of $7.60 billion, a PE ratio of 11.72, a PEG ratio of 2.10 and a beta of 0.81.

Remove Ads

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business earned $0.75 EPS. Graphic Packaging's revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Graphic Packaging's previous quarterly dividend of $0.10. Graphic Packaging's dividend payout ratio (DPR) is 20.37%.

Analysts Set New Price Targets

Several research firms have issued reports on GPK. Truist Financial upped their price objective on Graphic Packaging from $30.00 to $32.00 and gave the company a "hold" rating in a research note on Monday, January 6th. Robert W. Baird dropped their price target on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Citigroup reissued a "neutral" rating and set a $30.00 price target (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, Wells Fargo & Company raised Graphic Packaging from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Graphic Packaging currently has an average rating of "Hold" and an average target price of $31.70.

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.