Graphic Packaging Holding (NYSE:GPK) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC reduced its position in Graphic Packaging Holding (NYSE:GPK) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,775 shares of the industrial products company’s stock after selling 1,790 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Graphic Packaging were worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 549 shares during the period. Access Financial Services Inc. raised its holdings in Graphic Packaging by 1.6% in the 4th quarter. Access Financial Services Inc. now owns 38,142 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 599 shares during the period. Merit Financial Group LLC purchased a new position in Graphic Packaging during the fourth quarter worth approximately $216,000. Avanza Fonder AB acquired a new stake in Graphic Packaging in the fourth quarter valued at approximately $190,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Graphic Packaging in the fourth quarter valued at approximately $51,642,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Stock Up 1.4 %

Shares of NYSE GPK opened at $28.32 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. The company has a 50-day moving average of $28.24 and a 200 day moving average of $28.61. Graphic Packaging Holding has a 12-month low of $23.47 and a 12-month high of $30.70. The stock has a market cap of $8.50 billion, a PE ratio of 12.10 and a beta of 0.85.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. Graphic Packaging’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. As a group, sell-side analysts predict that Graphic Packaging Holding will post 2.53 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.41%. Graphic Packaging’s payout ratio is 17.09%.

Wall Street Analysts Forecast Growth

GPK has been the topic of a number of recent analyst reports. Truist Financial increased their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Citigroup reaffirmed a “neutral” rating and set a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada cut their price objective on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.37.

Insider Activity at Graphic Packaging

In related news, EVP Michael James Farrell sold 25,900 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the transaction, the executive vice president now directly owns 81,026 shares in the company, valued at approximately $2,348,943.74. This represents a 24.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Charles D. Lischer sold 12,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $29.65, for a total value of $355,800.00. Following the sale, the chief accounting officer now directly owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This trade represents a 19.40 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Graphic Packaging Company Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.