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

Oppenheimer & Co. Inc. purchased a new stake in shares of Graphic Packaging Holding (NYSE:GPK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 60,210 shares of the industrial products company’s stock, valued at approximately $1,635,000.

A number of other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its position in Graphic Packaging by 14.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 11,133 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 1,376 shares in the last quarter. WealthBridge Capital Management LLC raised its position in Graphic Packaging by 33.8% during the fourth quarter. WealthBridge Capital Management LLC now owns 10,048 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 2,541 shares in the last quarter. Alberta Investment Management Corp raised its position in Graphic Packaging by 7.0% during the fourth quarter. Alberta Investment Management Corp now owns 113,423 shares of the industrial products company’s stock valued at $3,081,000 after purchasing an additional 7,453 shares in the last quarter. Truist Financial Corp raised its position in Graphic Packaging by 6.2% during the fourth quarter. Truist Financial Corp now owns 241,302 shares of the industrial products company’s stock valued at $6,554,000 after purchasing an additional 14,030 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Down 2.1 %

NYSE GPK opened at $26.13 on Tuesday. 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 $7.84 billion, a PE ratio of 12.10, a PEG ratio of 2.10 and a beta of 0.84. Graphic Packaging Holding has a 1 year low of $25.13 and a 1 year high of $30.70. The business’s 50-day moving average is $27.11 and its 200 day moving average is $28.46.

Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.04). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Sell-side analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.68%. Graphic Packaging’s dividend payout ratio (DPR) is presently 20.37%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPK. Citigroup restated a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird reduced 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 raised their price objective on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price objective 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 issued a buy rating to the stock. According to data from MarketBeat, Graphic Packaging has an average rating of “Hold” and a consensus price target of $31.70.

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.