Shell Asset Management Co. cut its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 34.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,264 shares of the industrial products company’s stock after selling 64,649 shares during the quarter. Shell Asset Management Co.’s holdings in Graphic Packaging were worth $1,699,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. NumerixS Investment Technologies Inc increased its holdings in shares of Graphic Packaging by 2,633.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 8,200 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 7,900 shares in the last quarter. WealthTrust Fairport LLC purchased a new position in shares of Graphic Packaging during the 2nd quarter valued at approximately $146,000. CIBC Asset Management Inc purchased a new position in shares of Graphic Packaging during the 2nd quarter valued at approximately $148,000. IFP Advisors Inc increased its holdings in shares of Graphic Packaging by 831.0% during the 3rd quarter. IFP Advisors Inc now owns 12,066 shares of the industrial products company’s stock valued at $169,000 after purchasing an additional 10,770 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Graphic Packaging by 1,838.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 222,669 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 211,184 shares during the period.
In other Graphic Packaging news, Director Larry M. Venturelli bought 25,000 shares of the stock in a transaction on Thursday, October 25th. The shares were bought at an average price of $10.59 per share, with a total value of $264,750.00. Following the purchase, the director now directly owns 47,993 shares in the company, valued at approximately $508,245.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.
Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Graphic Packaging had a return on equity of 11.90% and a net margin of 6.18%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, analysts forecast that Graphic Packaging Holding will post 0.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 5th. Shareholders of record on Saturday, December 15th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.30 annualized dividend and a yield of 2.50%. Graphic Packaging’s dividend payout ratio (DPR) is presently 47.62%.
A number of equities research analysts recently issued reports on the stock. ValuEngine cut shares of Graphic Packaging from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. BMO Capital Markets dropped their price target on shares of Graphic Packaging from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Vertical Research set a $18.00 price target on shares of Graphic Packaging and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Deutsche Bank set a $15.00 price target on shares of Graphic Packaging and gave the company a “buy” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Graphic Packaging from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.94.
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About Graphic Packaging
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK) and coated recycled paperboard (CRB) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons primarily to consumer packaged goods companies.
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