AXQ Capital LP Takes $452,000 Position in Graphic Packaging Holding (NYSE:GPK)

AXQ Capital LP acquired a new position in shares of Graphic Packaging Holding (NYSE:GPK) during the fourth quarter, HoldingsChannel reports. The fund acquired 16,630 shares of the industrial products company’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new stake in shares of Graphic Packaging in the 3rd quarter worth approximately $30,000. Picton Mahoney Asset Management grew its holdings in Graphic Packaging by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 394 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Graphic Packaging in the fourth quarter valued at $32,000. Avior Wealth Management LLC raised its stake in shares of Graphic Packaging by 2,484.0% during the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock worth $35,000 after buying an additional 1,242 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock worth $39,000 after buying an additional 689 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Down 2.6 %

Shares of NYSE GPK opened at $25.31 on Friday. The firm’s 50 day moving average price is $26.93 and its 200 day moving average price is $28.17. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. The firm has a market cap of $7.60 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. Graphic Packaging Holding has a 1 year low of $25.13 and a 1 year high of $30.70.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The business had revenue of $2.10 billion during 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 revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. As a group, sell-side analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current 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 paid a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GPK. Truist Financial lifted their target price on shares of Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup reiterated a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, Robert W. Baird cut their price target 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 assigned a buy rating to the stock. According to data from MarketBeat, Graphic Packaging currently 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.