Lombard Odier Asset Management Europe Ltd Raises Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Lombard Odier Asset Management Europe Ltd lifted its holdings in Graphic Packaging Holding (NYSE:GPK) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,674 shares of the industrial products company’s stock after buying an additional 31,009 shares during the quarter. Lombard Odier Asset Management Europe Ltd owned approximately 0.09% of Graphic Packaging worth $7,514,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Greenlight Capital Inc. grew its stake in shares of Graphic Packaging by 32.0% in the 4th quarter. Greenlight Capital Inc. now owns 2,536,100 shares of the industrial products company’s stock worth $62,515,000 after buying an additional 614,490 shares during the last quarter. BNP Paribas purchased a new position in Graphic Packaging in the first quarter worth about $935,000. Harber Asset Management LLC bought a new position in shares of Graphic Packaging in the fourth quarter worth approximately $4,412,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Graphic Packaging by 43.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock valued at $5,916,000 after buying an additional 61,102 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Graphic Packaging by 171.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock valued at $17,631,000 after acquiring an additional 381,112 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now directly owns 1,909,576 shares in the company, valued at $53,296,266.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GPK. Stifel Nicolaus initiated coverage on Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price on the stock. Citigroup reduced their price objective on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. Truist Financial restated a “buy” rating and set a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Graphic Packaging in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price objective on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Graphic Packaging currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.15.

Graphic Packaging Price Performance

Shares of Graphic Packaging stock opened at $30.11 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. Graphic Packaging Holding has a 12 month low of $20.07 and a 12 month high of $30.66. The stock has a 50 day moving average of $28.81 and a 200 day moving average of $27.97. The firm has a market cap of $9.25 billion, a PE ratio of 13.62, a PEG ratio of 5.12 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. Graphic Packaging’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. On average, research analysts expect that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.33%. Graphic Packaging’s dividend payout ratio is currently 18.10%.

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.