Oppenheimer & Co. Inc. Acquires Shares of 60,210 Graphic Packaging Holding (NYSE:GPK)

Oppenheimer & Co. Inc. acquired a new stake in shares of Graphic Packaging Holding (NYSE:GPK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 60,210 shares of the industrial products company’s stock, valued at approximately $1,635,000.

Several other large investors have also bought and sold shares of the company. Worldquant Millennium Advisors LLC boosted its position in Graphic Packaging by 1.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company’s stock valued at $1,126,000 after acquiring an additional 401 shares in the last quarter. KBC Group NV lifted its holdings in shares of Graphic Packaging by 1.8% during the third quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock valued at $793,000 after purchasing an additional 465 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Graphic Packaging by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 477 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Graphic Packaging by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 486 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Graphic Packaging by 58.2% during the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 549 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Truist Financial lifted their target price on shares of Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup restated a “neutral” rating and issued a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, Wells Fargo & Company upgraded shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.70.

Graphic Packaging Price Performance

Shares of NYSE GPK opened at $26.13 on Tuesday. Graphic Packaging Holding has a twelve month low of $25.13 and a twelve month high of $30.70. The firm has a market cap of $7.84 billion, a P/E ratio of 12.10, a PEG ratio of 2.10 and a beta of 0.84. The company has a 50 day moving average of $27.11 and a 200 day moving average of $28.46. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. Graphic Packaging’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, research analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. Graphic Packaging’s payout ratio is currently 20.37%.

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.