Russell Investments Group Ltd. increased its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 14.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,767 shares of the industrial products company’s stock after buying an additional 4,722 shares during the quarter. Russell Investments Group Ltd.’s holdings in Graphic Packaging were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of GPK. American Century Companies Inc. grew its stake in Graphic Packaging by 241.9% in the third quarter. American Century Companies Inc. now owns 15,844,681 shares of the industrial products company’s stock valued at $221,033,000 after purchasing an additional 11,210,161 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Graphic Packaging in the second quarter valued at about $116,776,000. Canyon Capital Advisors LLC purchased a new position in Graphic Packaging in the second quarter valued at about $100,045,000. Ameriprise Financial Inc. grew its stake in Graphic Packaging by 292.7% in the second quarter. Ameriprise Financial Inc. now owns 2,816,525 shares of the industrial products company’s stock valued at $38,816,000 after purchasing an additional 2,099,223 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Graphic Packaging by 3,096.8% in the second quarter. Renaissance Technologies LLC now owns 1,976,218 shares of the industrial products company’s stock valued at $27,232,000 after purchasing an additional 1,914,400 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.
In other Graphic Packaging news, VP Deborah R. Frank sold 38,266 shares of the business’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 completion of the sale, the vice president now owns 77,139 shares of the company’s stock, valued at $1,196,425.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is owned by insiders.
Shares of Graphic Packaging Holding (GPK) opened at $15.80 on Friday. Graphic Packaging Holding has a 12-month low of $12.00 and a 12-month high of $16.10. The firm has a market capitalization of $4,940.00, a PE ratio of 30.98, a price-to-earnings-growth ratio of 3.69 and a beta of 1.19. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.50 and a quick ratio of 0.74.
Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts expect that Graphic Packaging Holding will post 0.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a $0.075 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.90%. Graphic Packaging’s dividend payout ratio is currently 58.82%.
A number of brokerages have commented on GPK. Zacks Investment Research upgraded Graphic Packaging from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. KeyCorp restated a “hold” rating on shares of Graphic Packaging in a research note on Wednesday, October 4th. Royal Bank of Canada restated a “buy” rating and issued a $15.00 target price on shares of Graphic Packaging in a research note on Tuesday, October 10th. Robert W. Baird boosted their target price on Graphic Packaging from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Finally, Stephens initiated coverage on Graphic Packaging in a research report on Tuesday, October 24th. They issued an “overweight” rating and a $17.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Graphic Packaging has an average rating of “Buy” and a consensus price target of $16.26.
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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