Skylands Capital LLC lowered its stake in shares of Graphic Packaging Holding Company (NYSE:GPK – Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,902 shares of the industrial products company’s stock after selling 45,998 shares during the quarter. Skylands Capital LLC owned about 0.11% of Graphic Packaging worth $3,369,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eminence Capital LP grew its stake in Graphic Packaging by 164.6% in the 3rd quarter. Eminence Capital LP now owns 7,648,135 shares of the industrial products company’s stock valued at $149,674,000 after buying an additional 4,758,098 shares during the last quarter. Causeway Capital Management LLC raised its holdings in Graphic Packaging by 251.3% in the 3rd quarter. Causeway Capital Management LLC now owns 2,601,576 shares of the industrial products company’s stock worth $50,913,000 after acquiring an additional 1,861,097 shares during the period. Tudor Investment Corp ET AL acquired a new position in Graphic Packaging during the 3rd quarter worth $2,360,000. SG Americas Securities LLC lifted its position in Graphic Packaging by 673.5% during the 4th quarter. SG Americas Securities LLC now owns 165,245 shares of the industrial products company’s stock worth $2,489,000 after acquiring an additional 143,882 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Graphic Packaging by 15.6% during the third quarter. Royce & Associates LP now owns 1,244,210 shares of the industrial products company’s stock valued at $24,349,000 after acquiring an additional 167,623 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.
Graphic Packaging Stock Up 0.8%
Shares of GPK opened at $11.00 on Friday. The company has a 50-day moving average price of $10.33 and a two-hundred day moving average price of $11.94. Graphic Packaging Holding Company has a 12 month low of $8.78 and a 12 month high of $23.76. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 11.95 and a beta of 0.66. The company has a quick ratio of 0.59, a current ratio of 1.41 and a debt-to-equity ratio of 1.60.
Graphic Packaging Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 4.0%. Graphic Packaging’s payout ratio is currently 47.83%.
Insider Buying and Selling
In related news, Director Jeffrey Stafeil acquired 17,878 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were purchased at an average price of $11.19 per share, with a total value of $200,054.82. Following the acquisition, the director directly owned 17,878 shares in the company, valued at $200,054.82. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
GPK has been the topic of a number of recent analyst reports. Robert W. Baird set a $13.00 price objective on Graphic Packaging in a research note on Wednesday, May 6th. Wells Fargo & Company decreased their target price on Graphic Packaging from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Graphic Packaging in a report on Wednesday. Raymond James Financial lowered Graphic Packaging from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Graphic Packaging from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Eight analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Graphic Packaging currently has an average rating of “Reduce” and an average target price of $12.32.
Get Our Latest Research Report on Graphic Packaging
Graphic Packaging Company Profile
Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.
Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.
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