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

KLP Kapitalforvaltning AS acquired a new stake in shares of Graphic Packaging Holding (NYSE:GPK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 61,400 shares of the industrial products company’s stock, valued at approximately $1,673,000.

Several other institutional investors have also bought and sold shares of GPK. Howard Capital Management Group LLC raised its position in shares of Graphic Packaging by 0.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company’s stock worth $29,826,000 after buying an additional 2,969 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Graphic Packaging by 18.2% during the third quarter. Cerity Partners LLC now owns 21,935 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 3,376 shares during the period. Truvestments Capital LLC bought a new stake in Graphic Packaging during the third quarter worth approximately $30,000. Bank of Montreal Can lifted its position in Graphic Packaging by 144.6% in the third quarter. Bank of Montreal Can now owns 104,957 shares of the industrial products company’s stock worth $3,096,000 after purchasing an additional 62,041 shares during the period. Finally, FMR LLC boosted its stake in Graphic Packaging by 12.6% during the 3rd quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock valued at $605,416,000 after purchasing an additional 2,294,688 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GPK shares. Robert W. Baird dropped their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Truist Financial cut their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “hold” rating for the company in a report on Monday, March 24th. Citigroup reaffirmed a “neutral” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Four investment 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, the stock has an average rating of “Hold” and a consensus target price of $31.37.

Graphic Packaging Price Performance

NYSE GPK opened at $26.11 on Friday. Graphic Packaging Holding has a 1 year low of $24.50 and a 1 year high of $30.70. The stock’s 50-day moving average price is $26.76 and its two-hundred day moving average price is $28.06. The company has a market cap of $7.84 billion, a PE ratio of 12.09, a PEG ratio of 2.10 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.15 billion. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. On average, analysts predict 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 will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be issued a dividend of $0.11 per share. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.69%. Graphic Packaging’s payout ratio is currently 20.37%.

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.