Onex Canada Asset Management Inc. Increases Holdings in Graphic Packaging Holding Company $GPK

Onex Canada Asset Management Inc. boosted its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 23.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463,169 shares of the industrial products company’s stock after purchasing an additional 87,344 shares during the quarter. Graphic Packaging comprises 1.1% of Onex Canada Asset Management Inc.’s portfolio, making the stock its 24th biggest holding. Onex Canada Asset Management Inc. owned 0.16% of Graphic Packaging worth $9,064,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GPK. Callodine Capital Management LP bought a new stake in shares of Graphic Packaging during the third quarter valued at approximately $6,850,000. Marshall Wace LLP lifted its holdings in shares of Graphic Packaging by 35.1% in the third quarter. Marshall Wace LLP now owns 364,942 shares of the industrial products company’s stock worth $7,142,000 after buying an additional 94,811 shares in the last quarter. Twin Tree Management LP bought a new position in shares of Graphic Packaging during the third quarter worth $331,000. Entropy Technologies LP purchased a new position in Graphic Packaging during the third quarter valued at $1,066,000. Finally, Seven Six Capital Management LLC grew its stake in Graphic Packaging by 1.8% during the third quarter. Seven Six Capital Management LLC now owns 487,100 shares of the industrial products company’s stock valued at $9,533,000 after acquiring an additional 8,400 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPK has been the topic of several research reports. UBS Group reduced their target price on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a report on Monday, December 29th. Royal Bank Of Canada set a $13.00 price objective on Graphic Packaging in a report on Wednesday, February 4th. Truist Financial set a $14.00 target price on Graphic Packaging in a research report on Wednesday, February 4th. Finally, Robert W. Baird set a $15.00 target price on shares of Graphic Packaging in a report on Wednesday, February 4th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Graphic Packaging presently has a consensus rating of “Reduce” and an average target price of $16.63.

Graphic Packaging Trading Down 1.0%

Shares of NYSE GPK opened at $9.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.52 and a current ratio of 1.30. The business’s 50 day moving average price is $13.36 and its 200-day moving average price is $16.09. Graphic Packaging Holding Company has a fifty-two week low of $9.57 and a fifty-two week high of $26.51. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 6.57 and a beta of 0.65.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.24 EPS for the quarter. Graphic Packaging had a net margin of 5.15% and a return on equity of 16.58%. The company had revenue of $2.10 billion for the quarter. On average, sell-side analysts expect that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Sunday, March 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, March 13th. Graphic Packaging’s payout ratio is currently 29.73%.

Insider Activity

In other Graphic Packaging news, CEO Robbert Rietbroek bought 44,278 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average cost of $11.32 per share, for a total transaction of $501,226.96. Following the purchase, the chief executive officer directly owned 44,278 shares in the company, valued at $501,226.96. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.41% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.