KGH Ltd Purchases 184,000 Shares of Graphic Packaging Holding (NYSE:GPK)

KGH Ltd raised its position in Graphic Packaging Holding (NYSE:GPK) by 24.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 930,000 shares of the industrial products company’s stock after purchasing an additional 184,000 shares during the period. Graphic Packaging accounts for 1.4% of KGH Ltd’s investment portfolio, making the stock its 18th biggest position. KGH Ltd owned about 0.30% of Graphic Packaging worth $24,375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Greenlight Capital Inc. raised its holdings 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 valued at $62,515,000 after acquiring an additional 614,490 shares in the last quarter. BNP Paribas bought a new position in shares of Graphic Packaging in the 1st quarter worth $935,000. Harber Asset Management LLC purchased a new stake in shares of Graphic Packaging during the 4th quarter valued at $4,412,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Graphic Packaging by 43.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock worth $5,916,000 after acquiring an additional 61,102 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Graphic Packaging by 171.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock worth $17,631,000 after acquiring an additional 381,112 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

GPK has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Graphic Packaging in a research note on Wednesday, September 4th. Robert W. Baird upped their target price on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial reissued a “buy” rating and set a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.15.

Graphic Packaging Stock Performance

Shares of NYSE:GPK opened at $29.58 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. The company has a 50-day moving average price of $28.98 and a 200-day moving average price of $28.05. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 5.13 and a beta of 0.83. Graphic Packaging Holding has a 12 month low of $20.07 and a 12 month high of $30.66.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $0.66 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Graphic Packaging Holding will post 2.66 EPS for the current year.

Graphic Packaging Dividend Announcement

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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

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.