Renaissance Technologies LLC boosted its stake in Graphic Packaging Holding Company (NYSE:GPK) by 3,096.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,976,218 shares of the industrial products company’s stock after buying an additional 1,914,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.64% of Graphic Packaging Holding worth $27,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GPK. Bank of New York Mellon Corp raised its position in Graphic Packaging Holding by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,246,774 shares of the industrial products company’s stock valued at $30,961,000 after purchasing an additional 205,991 shares during the last quarter. American Century Companies Inc. raised its position in Graphic Packaging Holding by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 4,634,520 shares of the industrial products company’s stock valued at $63,864,000 after purchasing an additional 644,863 shares during the last quarter. BlackRock Inc. raised its position in Graphic Packaging Holding by 16,552.6% in the 1st quarter. BlackRock Inc. now owns 14,893,409 shares of the industrial products company’s stock valued at $191,677,000 after purchasing an additional 14,803,973 shares during the last quarter. Vanguard Group Inc. raised its position in Graphic Packaging Holding by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 25,103,563 shares of the industrial products company’s stock valued at $323,083,000 after purchasing an additional 896,031 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Graphic Packaging Holding by 2.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,390,397 shares of the industrial products company’s stock valued at $17,895,000 after purchasing an additional 29,761 shares during the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.

GPK has been the subject of several research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $15.50 price objective on shares of Graphic Packaging Holding in a research report on Friday, September 1st. DA Davidson reiterated a “buy” rating and issued a $16.50 price objective (down previously from $17.50) on shares of Graphic Packaging Holding in a research report on Monday, August 21st. BidaskClub upgraded Graphic Packaging Holding from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 price objective on shares of Graphic Packaging Holding in a research report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Graphic Packaging Holding from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.54.

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Shares of Graphic Packaging Holding Company (GPK) opened at 14.16 on Friday. Graphic Packaging Holding Company has a 52-week low of $12.00 and a 52-week high of $14.35. The stock’s 50 day moving average price is $13.37 and its 200-day moving average price is $13.40. The company has a market cap of $4.39 billion, a P/E ratio of 26.27 and a beta of 1.16.

Graphic Packaging Holding (NYSE:GPK) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. Graphic Packaging Holding had a return on equity of 18.22% and a net margin of 3.98%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.19 EPS. Graphic Packaging Holding’s revenue was down .8% compared to the same quarter last year. Equities analysts expect that Graphic Packaging Holding Company will post $0.68 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, September 14th. Graphic Packaging Holding’s payout ratio is 54.55%.

Graphic Packaging Holding 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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Institutional Ownership by Quarter for Graphic Packaging Holding (NYSE:GPK)

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