Mutual of America Capital Management LLC Sells 6,420 Shares of Graphic Packaging Holding (NYSE:GPK)

Mutual of America Capital Management LLC trimmed its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,941 shares of the industrial products company’s stock after selling 6,420 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Graphic Packaging worth $4,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GPK. Greenlight Capital Inc. grew its stake in Graphic Packaging by 32.0% in the 4th quarter. Greenlight Capital Inc. now owns 2,536,100 shares of the industrial products company’s stock valued at $62,515,000 after buying an additional 614,490 shares during the last quarter. BNP Paribas acquired a new position in shares of Graphic Packaging in the first quarter valued at approximately $935,000. Harber Asset Management LLC bought a new position in shares of Graphic Packaging during the fourth quarter worth approximately $4,412,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Graphic Packaging by 43.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock worth $5,916,000 after purchasing an additional 61,102 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Graphic Packaging by 171.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock valued at $17,631,000 after purchasing an additional 381,112 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

Shares of NYSE:GPK opened at $30.11 on Friday. Graphic Packaging Holding has a 1 year low of $20.07 and a 1 year high of $30.66. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 5.12 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The company’s 50 day simple moving average is $28.81 and its 200 day simple moving average is $27.96.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings data 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 return on equity of 30.74% and a net margin of 7.93%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the firm posted $0.66 earnings per share. Graphic Packaging’s revenue was down 6.5% compared to the same quarter last year. As a group, research analysts predict that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 86,374 shares of the business’s 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 owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GPK. StockNews.com raised Graphic Packaging from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus assumed coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Graphic Packaging in a research report on Wednesday, September 4th. Robert W. Baird lifted their price target on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Graphic Packaging has an average rating of “Moderate Buy” and an average price target of $31.15.

About Graphic Packaging

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.