Graphic Packaging Holding (NYSE:GPK) Shares Bought by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB raised its position in Graphic Packaging Holding (NYSE:GPK) by 67.8% in the 1st quarter, Holdings Channel reports. The fund owned 109,560 shares of the industrial products company’s stock after purchasing an additional 44,253 shares during the period. E. Ohman J or Asset Management AB’s holdings in Graphic Packaging were worth $2,844,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management grew its position in shares of Graphic Packaging by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock worth $30,000 after buying an additional 394 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock worth $39,000 after buying an additional 689 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Graphic Packaging during the fourth quarter worth approximately $43,000. Park Square Financial Group LLC acquired a new stake in shares of Graphic Packaging during the fourth quarter worth approximately $79,000. Finally, Atala Financial Inc acquired a new stake in shares of Graphic Packaging during the fourth quarter worth approximately $109,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Stock Performance

Shares of GPK opened at $22.25 on Friday. 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 stock has a market capitalization of $6.72 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 2.10 and a beta of 0.74. Graphic Packaging Holding has a 12-month low of $20.86 and a 12-month high of $30.70. The business’s fifty day moving average price is $23.62 and its 200 day moving average price is $26.10.

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

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. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, June 13th. Graphic Packaging’s payout ratio is 21.46%.

Graphic Packaging announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 23.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPK. Raymond James reissued an “outperform” rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. UBS Group started coverage on shares of Graphic Packaging in a research report on Wednesday. They set a “neutral” rating and a $24.00 price target for the company. Royal Bank of Canada reduced their price objective on Graphic Packaging from $32.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Truist Financial reduced their price objective on Graphic Packaging from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.53.

About Graphic Packaging

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.