Graphic Packaging Holding Company (GPK) Shares Sold by Cadence Capital Management LLC
Cadence Capital Management LLC lessened its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 50.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,572 shares of the industrial products company’s stock after selling 43,148 shares during the quarter. Cadence Capital Management LLC’s holdings in Graphic Packaging were worth $580,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Graphic Packaging by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,246,774 shares of the industrial products company’s stock worth $30,961,000 after buying an additional 205,991 shares during the period. American Century Companies Inc. raised its stake in shares of Graphic Packaging 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 period. Sei Investments Co. raised its stake in shares of Graphic Packaging by 24.7% in the 3rd quarter. Sei Investments Co. now owns 880,593 shares of the industrial products company’s stock valued at $12,284,000 after purchasing an additional 174,462 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Graphic Packaging by 292.7% in the 2nd 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 during the period. Finally, Shell Asset Management Co. raised its stake in shares of Graphic Packaging by 34.3% in the 3rd quarter. Shell Asset Management Co. now owns 269,408 shares of the industrial products company’s stock valued at $3,349,000 after purchasing an additional 68,843 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on GPK shares. Stephens started coverage on Graphic Packaging in a research note on Tuesday, October 24th. They issued an “overweight” rating and a $17.00 price target on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $15.50 target price on shares of Graphic Packaging in a research report on Friday, September 1st. KeyCorp reaffirmed a “hold” rating on shares of Graphic Packaging in a research report on Wednesday, October 4th. Zacks Investment Research raised Graphic Packaging from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $15.00 target price on shares of Graphic Packaging in a research report on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $16.26.
Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.18 earnings per share (EPS) 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 company posted $0.20 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. analysts forecast that Graphic Packaging Holding Company will post 0.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.94%. Graphic Packaging’s dividend payout ratio (DPR) is presently 57.69%.
In other news, VP Deborah R. Frank sold 38,266 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $15.51, for a total transaction of $593,505.66. Following the completion of the transaction, the vice president now directly owns 77,139 shares in the company, valued at $1,196,425.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by corporate insiders.
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Graphic Packaging Company 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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