Marshall Wace North America L.P. reduced its position in shares of Graphic Packaging Holding (NYSE:GPK) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,091,080 shares of the industrial products company’s stock after selling 243,750 shares during the period. Marshall Wace North America L.P. owned 0.35% of Graphic Packaging worth $15,286,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc boosted 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 worth $119,000 after buying an additional 7,900 shares during the period. WealthTrust Fairport LLC bought a new stake in shares of Graphic Packaging during the 2nd quarter worth $146,000. CIBC Asset Management Inc bought a new stake in shares of Graphic Packaging during the 2nd quarter worth $148,000. FDx Advisors Inc. bought a new stake in shares of Graphic Packaging during the 3rd quarter worth $153,000. Finally, IFP Advisors Inc boosted 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 worth $169,000 after buying an additional 10,770 shares during the period.
In related news, Director Larry M. Venturelli purchased 25,000 shares of Graphic Packaging stock in a transaction on Thursday, October 25th. The stock was purchased at an average cost of $10.59 per share, with a total value of $264,750.00. Following the acquisition, the director now directly owns 47,993 shares in the company, valued at $508,245.87. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.62% of the stock is owned by corporate insiders.
Several analysts recently issued reports on GPK shares. ValuEngine downgraded shares of Graphic Packaging from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Zacks Investment Research raised shares of Graphic Packaging from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, October 16th. BMO Capital Markets reduced their price target on shares of Graphic Packaging from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Deutsche Bank set a $15.00 price target on shares of Graphic Packaging and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, Vertical Research set a $18.00 price target on shares of Graphic Packaging and gave the company a “buy” rating in a report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $16.94.
Shares of Graphic Packaging stock opened at $11.40 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.67 and a debt-to-equity ratio of 1.27. Graphic Packaging Holding has a fifty-two week low of $10.04 and a fifty-two week high of $16.74. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.14 and a beta of 1.35.
Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Graphic Packaging had a net margin of 6.18% and a return on equity of 11.90%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.18 earnings per share. Graphic Packaging’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities research analysts expect that Graphic Packaging Holding will post 0.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, January 5th. Shareholders of record on Saturday, December 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 13th. Graphic Packaging’s dividend payout ratio (DPR) is presently 47.62%.
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Graphic Packaging Company Profile
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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