Edgestream Partners L.P. Invests $1.44 Million in Graphic Packaging Holding (NYSE:GPK)

Edgestream Partners L.P. acquired a new position in Graphic Packaging Holding (NYSE:GPK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 55,092 shares of the industrial products company’s stock, valued at approximately $1,444,000.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in Graphic Packaging by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock worth $317,549,000 after acquiring an additional 3,576,877 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Graphic Packaging by 18.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,873,081 shares of the industrial products company’s stock worth $311,193,000 after acquiring an additional 1,889,525 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Graphic Packaging by 7.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after acquiring an additional 706,486 shares during the period. Eminence Capital LP raised its stake in Graphic Packaging by 5.7% during the 4th quarter. Eminence Capital LP now owns 7,962,325 shares of the industrial products company’s stock worth $196,271,000 after acquiring an additional 431,818 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Graphic Packaging by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock worth $158,693,000 after acquiring an additional 362,509 shares during the period. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Trading Down 1.3 %

Shares of GPK opened at $30.11 on Friday. The company’s fifty day moving average is $28.81 and its 200 day moving average is $27.95. Graphic Packaging Holding has a fifty-two week low of $20.07 and a fifty-two week high of $30.66. The stock has a market capitalization of $9.25 billion, a PE ratio of 13.62, a P/E/G ratio of 5.12 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping 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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Graphic Packaging’s quarterly revenue was down 6.5% on a year-over-year basis. Sell-side analysts expect that Graphic Packaging Holding will post 2.66 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

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 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s dividend payout ratio (DPR) is 18.10%.

Wall Street Analysts Forecast Growth

GPK has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Graphic Packaging in a report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Insider Buying and Selling at Graphic Packaging

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction on 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 owns 1,909,576 shares in the company, valued at $53,296,266.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the company’s 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 completion of the transaction, 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. Company insiders own 1.20% of the company’s stock.

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.