CANADA LIFE ASSURANCE Co Purchases 381,112 Shares of Graphic Packaging Holding (NYSE:GPK)

CANADA LIFE ASSURANCE Co boosted its position in shares of Graphic Packaging Holding (NYSE:GPK) by 171.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 603,023 shares of the industrial products company’s stock after buying an additional 381,112 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Graphic Packaging were worth $17,631,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mirova raised its stake in shares of Graphic Packaging by 619.9% during the first quarter. Mirova now owns 146,131 shares of the industrial products company’s stock worth $4,264,000 after buying an additional 125,831 shares during the last quarter. Lcnb Corp raised its position in shares of Graphic Packaging by 7.6% during the 1st quarter. Lcnb Corp now owns 32,408 shares of the industrial products company’s stock valued at $946,000 after acquiring an additional 2,297 shares during the last quarter. Covestor Ltd lifted its stake in shares of Graphic Packaging by 1,023.8% in the 1st quarter. Covestor Ltd now owns 5,765 shares of the industrial products company’s stock valued at $169,000 after purchasing an additional 5,252 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Graphic Packaging in the 1st quarter worth $843,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Graphic Packaging during the first quarter worth $8,410,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Up 0.9 %

GPK traded up $0.25 during trading on Thursday, hitting $27.57. The company had a trading volume of 727,207 shares, compared to its average volume of 2,667,093. The company has a market capitalization of $8.47 billion, a PE ratio of 12.43, a PEG ratio of 10.08 and a beta of 0.85. The company has a quick ratio of 0.52, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. Graphic Packaging Holding has a one year low of $20.07 and a one year high of $29.50. The firm’s 50-day moving average price is $27.25 and its 200 day moving average price is $26.94.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.38 billion. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. As a group, equities analysts expect that Graphic Packaging Holding will post 2.69 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.45%. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Analyst Ratings Changes

Several research firms have weighed in on GPK. Stifel Nicolaus started coverage on Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price on the stock. StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Truist Financial boosted their price objective on shares of Graphic Packaging from $31.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company reiterated an “underweight” rating and issued a $21.00 target price on shares of Graphic Packaging in a report on Monday, April 1st. Finally, Citigroup lowered their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.03.

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.