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

Onex Canada Asset Management Inc. increased its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 23.2% during the third quarter, Holdings Channel.com reports. The fund owned 463,169 shares of the industrial products company’s stock after buying an additional 87,344 shares during the period. Graphic Packaging comprises approximately 1.1% of Onex Canada Asset Management Inc.’s holdings, making the stock its 24th biggest position. Onex Canada Asset Management Inc.’s holdings in Graphic Packaging were worth $9,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GPK. AQR Capital Management LLC grew its stake in Graphic Packaging by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 171,608 shares of the industrial products company’s stock valued at $4,453,000 after acquiring an additional 45,944 shares during the period. Goldman Sachs Group Inc. raised its position in Graphic Packaging by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,471,519 shares of the industrial products company’s stock worth $38,201,000 after acquiring an additional 132,692 shares during the period. Bank of Montreal Can lifted its holdings in Graphic Packaging by 3.2% during the second quarter. Bank of Montreal Can now owns 67,364 shares of the industrial products company’s stock valued at $1,419,000 after purchasing an additional 2,110 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Graphic Packaging during the second quarter valued at $250,000. Finally, ProShare Advisors LLC grew its position in shares of Graphic Packaging by 4.6% in the second quarter. ProShare Advisors LLC now owns 13,379 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 588 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock opened at $9.73 on Friday. The firm has a market cap of $2.88 billion, a PE ratio of 6.57 and a beta of 0.65. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. Graphic Packaging Holding Company has a 52 week low of $9.57 and a 52 week high of $26.51. The business’s fifty day simple moving average is $13.36 and its 200-day simple moving average is $16.09.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data 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 firm had revenue of $2.10 billion for the quarter. Equities analysts forecast that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Announces Dividend

The business 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 dividend of $0.11 per share. The ex-dividend date is Friday, March 13th. This represents a $0.44 annualized dividend and a yield of 4.5%. Graphic Packaging’s dividend payout ratio is 29.73%.

Insider Transactions at Graphic Packaging

In other news, CEO Robbert Rietbroek bought 44,278 shares of the business’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 completion of the purchase, the chief executive officer owned 44,278 shares of the company’s stock, valued at approximately $501,226.96. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GPK. Zacks Research lowered Graphic Packaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. Wells Fargo & Company lowered their price target on Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 4th. Citigroup dropped their price target on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, December 29th. Finally, Robert W. Baird set a $15.00 price objective on Graphic Packaging in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Graphic Packaging currently has an average rating of “Reduce” and a consensus target price of $16.63.

Graphic Packaging Profile

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.