KLP Kapitalforvaltning AS Invests $1.67 Million in Graphic Packaging Holding (NYSE:GPK)

KLP Kapitalforvaltning AS purchased a new stake in Graphic Packaging Holding (NYSE:GPK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 61,400 shares of the industrial products company's stock, valued at approximately $1,673,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GPK. FMR LLC boosted its stake in Graphic Packaging by 12.6% in the 3rd quarter. FMR LLC now owns 20,460,161 shares of the industrial products company's stock worth $605,416,000 after purchasing an additional 2,294,688 shares during the period. American Century Companies Inc. lifted its holdings in shares of Graphic Packaging by 7.9% in the fourth quarter. American Century Companies Inc. now owns 16,555,660 shares of the industrial products company's stock valued at $449,652,000 after purchasing an additional 1,206,295 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Graphic Packaging by 11.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company's stock worth $441,990,000 after buying an additional 1,702,764 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Graphic Packaging by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock worth $313,957,000 after buying an additional 787,266 shares in the last quarter. Finally, Amundi raised its position in Graphic Packaging by 6.7% in the 4th quarter. Amundi now owns 4,799,090 shares of the industrial products company's stock valued at $128,178,000 after buying an additional 302,168 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Remove Ads

Graphic Packaging Stock Up 0.4 %

GPK traded up $0.10 during trading on Wednesday, reaching $26.32. 2,730,678 shares of the stock were exchanged, compared to its average volume of 2,395,921. The stock has a market cap of $7.90 billion, a P/E ratio of 12.19, 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. The stock's 50 day moving average price is $26.64 and its two-hundred day moving average price is $27.98. Graphic Packaging Holding has a twelve month low of $24.50 and a twelve month high of $30.70.

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

Graphic Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be paid a dividend of $0.11 per share. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, March 14th. Graphic Packaging's payout ratio is currently 20.37%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GPK shares. Wells Fargo & Company raised Graphic Packaging from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup restated a "neutral" rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Truist Financial decreased their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, March 24th. Finally, Robert W. Baird lowered their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Graphic Packaging has an average rating of "Hold" and an average target price of $31.37.

Graphic Packaging Company 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.