Cipher Capital LP lowered its position in shares of Graphic Packaging Holding Company (NYSE:GPK) by 27.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,707 shares of the industrial products company’s stock after selling 50,254 shares during the quarter. Cipher Capital LP’s holdings in Graphic Packaging were worth $1,893,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPK. Boston Partners raised its position in shares of Graphic Packaging by 2.5% during the 3rd quarter. Boston Partners now owns 23,242,239 shares of the industrial products company’s stock worth $324,229,000 after purchasing an additional 575,011 shares during the period. American Century Companies Inc. raised its position in shares of Graphic Packaging by 241.9% during the 3rd quarter. American Century Companies Inc. now owns 15,844,681 shares of the industrial products company’s stock worth $221,033,000 after purchasing an additional 11,210,161 shares during the period. JPMorgan Chase & Co. raised its position in shares of Graphic Packaging by 8.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,994,618 shares of the industrial products company’s stock worth $123,946,000 after purchasing an additional 696,161 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Graphic Packaging during the 2nd quarter worth approximately $116,776,000. Finally, Canyon Capital Advisors LLC acquired a new stake in Graphic Packaging in the 2nd quarter valued at approximately $100,045,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.
In other news, VP Deborah R. Frank sold 38,266 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $15.51, for a total value of $593,505.66. Following the sale, the vice president now directly owns 77,139 shares of the company’s stock, valued at $1,196,425.89. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.
A number of brokerages have issued reports on GPK. BMO Capital Markets reaffirmed a “buy” rating and set a $15.50 price target on shares of Graphic Packaging in a research note on Friday, September 1st. Zacks Investment Research raised Graphic Packaging from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, October 12th. Stephens assumed coverage on Graphic Packaging in a research note on Tuesday, October 24th. They set an “overweight” rating and a $17.00 price objective for the company. KeyCorp reissued a “hold” rating on shares of Graphic Packaging in a research note on Sunday, October 29th. Finally, DA Davidson reissued a “buy” rating and set a $16.50 price objective (down from $17.50) on shares of Graphic Packaging in a research note on Monday, August 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $16.26.
Shares of Graphic Packaging Holding Company (NYSE:GPK) traded up $0.01 during trading hours on Thursday, hitting $15.36. The company had a trading volume of 1,762,922 shares, compared to its average volume of 3,929,019. The company has a current ratio of 1.50, a quick ratio of 0.74 and a debt-to-equity ratio of 1.96. Graphic Packaging Holding Company has a twelve month low of $12.00 and a twelve month high of $15.85. The stock has a market capitalization of $4,788.18, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 4.73 and a beta of 1.19.
Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Graphic Packaging had a return on equity of 17.27% and a net margin of 3.70%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. sell-side analysts anticipate that Graphic Packaging Holding Company will post 0.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, December 14th. Graphic Packaging’s dividend payout ratio is currently 57.69%.
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Graphic Packaging Company Profile
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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