Callodine Capital Management LP Takes $6.85 Million Position in Graphic Packaging Holding Company $GPK

Callodine Capital Management LP acquired a new position in shares of Graphic Packaging Holding Company (NYSE:GPK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 350,000 shares of the industrial products company’s stock, valued at approximately $6,850,000. Callodine Capital Management LP owned 0.12% of Graphic Packaging at the end of the most recent reporting period.

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

Insider Buying and Selling at Graphic Packaging

In other Graphic Packaging news, CEO Robbert Rietbroek purchased 44,278 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $11.32 per share, for a total transaction of $501,226.96. Following the purchase, the chief executive officer owned 44,278 shares in the company, valued at approximately $501,226.96. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

GPK has been the subject of a number of analyst reports. Robert W. Baird set a $15.00 target price on shares of Graphic Packaging in a research report on Wednesday, February 4th. Wells Fargo & Company reduced their price objective on shares of Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a report on Monday, December 29th. UBS Group lowered their target price on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Finally, Citigroup dropped their target price on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Eight investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Graphic Packaging has a consensus rating of “Reduce” and a consensus target price of $16.63.

Graphic Packaging Stock Down 1.0%

Shares of GPK stock opened at $9.73 on Friday. Graphic Packaging Holding Company has a 52-week low of $9.57 and a 52-week high of $26.51. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 6.57 and a beta of 0.65. The firm’s 50-day moving average is $13.36 and its 200-day moving average is $16.09. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.52 and a current ratio of 1.30.

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. The business had revenue of $2.10 billion during the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%. Sell-side analysts predict that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging Announces Dividend

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

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.