Oppenheimer Asset Management Inc. Has $12.10 Million Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,507 shares of the industrial products company’s stock after acquiring an additional 27,689 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Graphic Packaging were worth $12,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of GPK. Rise Advisors LLC acquired a new position in shares of Graphic Packaging in the first quarter valued at approximately $26,000. Principal Securities Inc. acquired a new position in Graphic Packaging in the 4th quarter worth $26,000. OLD Point Trust & Financial Services N A bought a new position in Graphic Packaging during the 4th quarter worth about $27,000. LRI Investments LLC acquired a new stake in shares of Graphic Packaging in the 1st quarter valued at about $38,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Graphic Packaging by 46.3% in the second quarter. GAMMA Investing LLC now owns 2,744 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 868 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GPK shares. Wells Fargo & Company lifted their target price on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Citigroup cut their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. StockNews.com upgraded Graphic Packaging from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their price target on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.15.

Graphic Packaging Trading Up 1.4 %

GPK stock opened at $29.88 on Friday. Graphic Packaging Holding has a one year low of $20.07 and a one year high of $30.66. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 5.12 and a beta of 0.83. The company has a fifty day moving average price of $28.43 and a two-hundred day moving average price of $27.80. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue was down 6.5% on a year-over-year basis. Equities analysts anticipate that Graphic Packaging Holding will post 2.66 EPS for the current year.

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s payout ratio is 18.10%.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Graphic Packaging 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.