Mizuho Bank Ltd. Makes New $43,000 Investment in Graphic Packaging Holding (NYSE:GPK)

Mizuho Bank Ltd. bought a new position in Graphic Packaging Holding (NYSE:GPK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,600 shares of the industrial products company’s stock, valued at approximately $43,000.

Several other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management raised its stake in shares of Graphic Packaging by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 394 shares in the last quarter. Worldquant Millennium Advisors LLC increased its holdings in 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 buying an additional 401 shares during the last quarter. 1620 Investment Advisors Inc. increased its holdings in Graphic Packaging by 3.8% in the fourth quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company’s stock worth $303,000 after buying an additional 413 shares during the last quarter. 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 acquiring an additional 477 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in Graphic Packaging by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 486 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Truist Financial dropped their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. Robert W. Baird reduced their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, Citigroup reiterated a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.37.

Graphic Packaging Trading Down 3.8 %

Shares of Graphic Packaging stock opened at $25.14 on Friday. Graphic Packaging Holding has a 1 year low of $24.50 and a 1 year high of $30.70. The company’s fifty day simple moving average is $26.57 and its 200-day simple moving average is $27.93. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.10 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last posted its quarterly 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 company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, sell-side analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be issued a $0.11 dividend. This is a boost 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 annualized dividend and a yield of 1.75%. Graphic Packaging’s dividend payout ratio is 20.37%.

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.