Connor Clark & Lunn Investment Management Ltd. Invests $2.49 Million in Graphic Packaging Holding (NYSE:GPK)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Graphic Packaging Holding (NYSE:GPK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 91,539 shares of the industrial products company’s stock, valued at approximately $2,486,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Worldquant Millennium Advisors LLC grew its stake in shares of Graphic Packaging by 1.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company’s stock worth $1,126,000 after purchasing an additional 401 shares in the last quarter. KBC Group NV grew its stake in shares of Graphic Packaging by 1.8% in the third quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 465 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Graphic Packaging by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 477 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Graphic Packaging by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 486 shares in the last quarter. Finally, Keynote Financial Services LLC grew its stake in shares of Graphic Packaging by 6.9% in the fourth quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Up 0.1 %

GPK opened at $26.22 on Wednesday. Graphic Packaging Holding has a fifty-two week low of $25.13 and a fifty-two week high of $30.70. The business has a 50-day moving average of $26.98 and a 200-day moving average of $28.24. 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 company has a market capitalization of $7.87 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last posted its quarterly 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). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities research analysts forecast that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GPK. Truist Financial raised their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Citigroup reaffirmed a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Robert W. Baird reduced their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Graphic Packaging has a consensus rating of “Hold” and an average 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.