GAMMA Investing LLC Grows Position in Graphic Packaging Holding (NYSE:GPK)

GAMMA Investing LLC boosted its stake in Graphic Packaging Holding (NYSE:GPK) by 2,086.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,025 shares of the industrial products company’s stock after buying an additional 93,541 shares during the quarter. GAMMA Investing LLC’s holdings in Graphic Packaging were worth $2,545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GPK. Alliancebernstein L.P. grew its stake in Graphic Packaging by 920.6% in the 4th quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company’s stock valued at $113,425,000 after purchasing an additional 3,767,011 shares during the period. Norges Bank bought a new position in Graphic Packaging in the 4th quarter valued at $98,268,000. Marshall Wace LLP grew its stake in Graphic Packaging by 735.3% in the 4th quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company’s stock valued at $66,456,000 after purchasing an additional 2,153,925 shares during the period. American Century Companies Inc. grew its stake in Graphic Packaging by 7.9% in the 4th 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 during the period. Finally, Raymond James Financial Inc. bought a new position in Graphic Packaging in the 4th quarter valued at $25,669,000. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Down 0.9%

GPK stock opened at $21.66 on Friday. 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 company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.10 and a beta of 0.74. Graphic Packaging Holding has a fifty-two week low of $20.86 and a fifty-two week high of $30.70. The stock has a fifty day moving average of $23.34 and a 200-day moving average of $25.91.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.14 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities research analysts predict that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 23.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a yield of 2.03%. Graphic Packaging’s dividend payout ratio is currently 21.46%.

Analyst Ratings Changes

A number of research analysts have issued reports on GPK shares. Truist Financial reduced their price objective on Graphic Packaging from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. 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 started coverage on Graphic Packaging in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Raymond James reiterated an “outperform” rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.53.

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.