Rhumbline Advisers Lowers Holdings in Graphic Packaging Holding (NYSE:GPK)

Rhumbline Advisers reduced its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 860,729 shares of the industrial products company’s stock after selling 8,874 shares during the quarter. Rhumbline Advisers owned 0.29% of Graphic Packaging worth $23,377,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Howard Capital Management Group LLC lifted its stake in shares of Graphic Packaging by 0.3% in the third quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company’s stock worth $29,826,000 after buying an additional 2,969 shares in the last quarter. Raymond James & Associates raised its holdings in Graphic Packaging by 23.9% in the 3rd quarter. Raymond James & Associates now owns 707,969 shares of the industrial products company’s stock valued at $20,949,000 after acquiring an additional 136,342 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Graphic Packaging by 1.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 95,216 shares of the industrial products company’s stock worth $2,817,000 after purchasing an additional 1,820 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Graphic Packaging by 26.1% during the 3rd quarter. Private Advisor Group LLC now owns 27,575 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 5,699 shares during the last quarter. Finally, Shayne & Jacobs LLC purchased a new stake in shares of Graphic Packaging in the third quarter valued at approximately $216,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Graphic Packaging

In other Graphic Packaging news, CAO Charles D. Lischer sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $29.65, for a total transaction of $355,800.00. Following the sale, the chief accounting officer now directly owns 49,849 shares of the company’s stock, valued at $1,478,022.85. This trade represents a 19.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on GPK shares. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $24.00 to $27.00 in a report on Monday, January 6th. Robert W. Baird cut their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Citigroup reaffirmed a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Truist Financial raised their price target on shares of Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging currently has an average rating of “Hold” and a consensus price target of $31.70.

Graphic Packaging Stock Up 0.1 %

Shares of NYSE:GPK opened at $27.03 on Friday. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.10 and a beta of 0.84. Graphic Packaging Holding has a fifty-two week low of $24.93 and a fifty-two week high of $30.70. The firm’s 50-day simple moving average is $27.27 and its 200-day simple moving average is $28.50. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the business posted $0.75 EPS. Graphic Packaging’s revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts predict that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be given a dividend of $0.11 per share. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, March 14th. Graphic Packaging’s payout ratio is currently 18.52%.

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.