Carnegie Lake Advisors LLC Sells 4,600 Shares of Graphic Packaging Holding (NYSE:GPK)

Carnegie Lake Advisors LLC cut its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 5.9% in the 4th quarter, HoldingsChannel reports. The fund owned 73,550 shares of the industrial products company’s stock after selling 4,600 shares during the period. Carnegie Lake Advisors LLC’s holdings in Graphic Packaging were worth $1,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GPK. Allspring Global Investments Holdings LLC grew its stake in shares of Graphic Packaging by 24.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock worth $437,945,000 after acquiring an additional 2,927,344 shares in the last quarter. FMR LLC grew its position in Graphic Packaging by 12.6% in the 3rd quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock worth $605,416,000 after purchasing an additional 2,294,688 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Graphic Packaging in the 4th quarter valued at about $51,642,000. Boston Trust Walden Corp bought a new position in shares of Graphic Packaging during the 4th quarter worth approximately $34,131,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after buying an additional 787,266 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insider Activity

In other Graphic Packaging news, CAO Charles D. Lischer sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the transaction, the chief accounting officer now owns 49,849 shares in the company, valued at $1,478,022.85. This trade represents a 19.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GPK has been the subject of a number of research analyst reports. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Truist Financial raised 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 reissued a “neutral” rating and issued a $30.00 price target (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Wells Fargo & Company upgraded shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada dropped their target price on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Graphic Packaging has an average rating of “Hold” and an average price target of $31.70.

Graphic Packaging Trading Down 0.1 %

Shares of Graphic Packaging stock opened at $26.41 on Tuesday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.07 and a beta of 0.84. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.72 and a current ratio of 1.46. The stock’s 50-day simple moving average is $27.72 and its 200 day simple moving average is $28.62.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.04). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. As a group, research analysts anticipate that Graphic Packaging Holding will post 2.51 EPS for the current year.

Graphic Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be issued a $0.11 dividend. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, March 14th. Graphic Packaging’s dividend payout ratio (DPR) is presently 18.52%.

About Graphic Packaging

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.