First Trust Advisors LP Sells 212,035 Shares of Graphic Packaging Holding (NYSE:GPK)

First Trust Advisors LP cut its position in Graphic Packaging Holding (NYSE:GPK) by 21.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 755,443 shares of the industrial products company’s stock after selling 212,035 shares during the quarter. First Trust Advisors LP’s holdings in Graphic Packaging were worth $20,518,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management raised its holdings in Graphic Packaging by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after buying an additional 394 shares during the last quarter. Crews Bank & Trust acquired a new position in Graphic Packaging in the 4th quarter valued at approximately $32,000. Avior Wealth Management LLC raised its stake in shares of Graphic Packaging by 2,484.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 689 shares during the period. Finally, UMB Bank n.a. grew its stake 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 purchasing an additional 549 shares during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

NYSE:GPK opened at $25.02 on Friday. The firm has a market capitalization of $7.55 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.10 and a beta of 0.80. Graphic Packaging Holding has a twelve month low of $23.03 and a twelve month high of $30.70. The company has a fifty day moving average of $25.76 and a 200-day moving average of $27.38. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). The company 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 company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, sell-side analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio (DPR) is 20.37%.

Analysts Set New Price Targets

Several research analysts have commented on GPK shares. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Robert W. Baird decreased their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Citigroup restated a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Raymond James reduced their price objective on shares of Graphic Packaging from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial lowered their target price on shares of Graphic Packaging from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.89.

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.