Bank of New York Mellon Corp lessened its position in Graphic Packaging Holding Company (NYSE:GPK) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,130,969 shares of the industrial products company’s stock after selling 115,805 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Graphic Packaging worth $29,726,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings 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 buying an additional 11,210,161 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Graphic Packaging during the 2nd quarter worth about $116,776,000. Canyon Capital Advisors LLC bought a new stake in shares of Graphic Packaging during the 2nd quarter worth about $100,045,000. Marshall Wace North America L.P. boosted its holdings in shares of Graphic Packaging by 149.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 3,846,707 shares of the industrial products company’s stock worth $53,854,000 after buying an additional 2,301,825 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Graphic Packaging by 292.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,816,525 shares of the industrial products company’s stock worth $38,816,000 after buying an additional 2,099,223 shares during the period. 96.90% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of Graphic Packaging from a “sell” rating to a “hold” rating in a report on Monday, December 4th. KeyCorp reiterated a “hold” rating on shares of Graphic Packaging in a research note on Sunday, October 29th. BMO Capital Markets lifted their price objective on shares of Graphic Packaging from $15.50 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Robert W. Baird lifted their price objective on shares of Graphic Packaging from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, Stephens assumed coverage on shares of Graphic Packaging in a research note on Tuesday, October 24th. They issued an “overweight” rating and a $17.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Graphic Packaging has an average rating of “Buy” and an average price target of $16.26.
Shares of Graphic Packaging Holding Company (GPK) traded up $0.04 during trading on Monday, reaching $15.40. 976,400 shares of the company’s stock traded hands, compared to its average volume of 3,916,560. Graphic Packaging Holding Company has a twelve month low of $12.00 and a twelve month high of $15.85. The company has a quick ratio of 0.74, a current ratio of 1.50 and a debt-to-equity ratio of 1.96. The firm has a market cap of $4,769.59, a PE ratio of 25.25, a price-to-earnings-growth ratio of 4.71 and a beta of 1.19.
Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Graphic Packaging had a net margin of 3.70% and a return on equity of 17.27%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. equities analysts forecast that Graphic Packaging Holding Company will post 0.65 EPS for the current year.
The company also recently announced 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 payout ratio is presently 57.69%.
In other news, VP Deborah R. Frank sold 38,266 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $15.51, for a total value of $593,505.66. Following the completion of the transaction, the vice president now directly owns 77,139 shares in the company, valued at approximately $1,196,425.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by insiders.
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Graphic Packaging 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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