Brevan Howard Capital Management LP Buys 97,131 Shares of Graphic Packaging Holding Company $GPK

Brevan Howard Capital Management LP boosted its stake in Graphic Packaging Holding Company (NYSE:GPK) by 171.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 153,808 shares of the industrial products company’s stock after acquiring an additional 97,131 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Graphic Packaging were worth $3,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bridgefront Capital LLC bought a new stake in shares of Graphic Packaging during the third quarter worth $566,000. California Public Employees Retirement System lifted its stake in shares of Graphic Packaging by 21.0% in the 3rd quarter. California Public Employees Retirement System now owns 525,930 shares of the industrial products company’s stock valued at $10,292,000 after acquiring an additional 91,369 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Graphic Packaging by 18.3% in the 3rd quarter. Bank of America Corp DE now owns 3,637,081 shares of the industrial products company’s stock valued at $71,178,000 after acquiring an additional 563,508 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Graphic Packaging by 6.3% during the 3rd quarter. Bank of Nova Scotia now owns 18,029 shares of the industrial products company’s stock valued at $353,000 after acquiring an additional 1,071 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Graphic Packaging during the 3rd quarter valued at $393,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Price Performance

Shares of GPK opened at $9.91 on Tuesday. Graphic Packaging Holding Company has a 1 year low of $9.57 and a 1 year high of $26.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 0.52. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 6.69 and a beta of 0.65. The business has a 50-day moving average of $13.25 and a 200-day moving average of $15.92.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Monday, March 2nd. The industrial products company reported $0.24 EPS for the quarter. The business had revenue of $2.10 billion for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%. As a group, equities research analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Sunday, March 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, March 13th. Graphic Packaging’s dividend payout ratio is currently 29.73%.

Insider Buying and Selling at Graphic Packaging

In other news, CEO Robbert Rietbroek bought 44,278 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $11.32 per share, with a total value of $501,226.96. Following the completion of the purchase, the chief executive officer directly 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 document filed with the SEC, which is available at this link. 1.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GPK has been the subject of a number of recent research reports. Royal Bank Of Canada set a $13.00 target price on Graphic Packaging in a report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, December 29th. Robert W. Baird set a $15.00 price target on Graphic Packaging in a report on Wednesday, February 4th. Citigroup lowered their price objective on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Truist Financial set a $14.00 price objective on shares of Graphic Packaging in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $16.63.

Graphic Packaging Company 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.