Private Management Group Inc. raised its stake in shares of Graphic Packaging Holding Company (NYSE:GPK – Free Report) by 10.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,917,440 shares of the industrial products company’s stock after buying an additional 181,228 shares during the quarter. Private Management Group Inc.’s holdings in Graphic Packaging were worth $17,353,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of GPK. BlackRock Inc. purchased a new stake in shares of Graphic Packaging in the second quarter worth about $440,345,000. Manning & Napier Advisors LLC purchased a new position in Graphic Packaging during the second quarter valued at approximately $88,094,000. Bank of America Corp DE bought a new stake in Graphic Packaging during the 2nd quarter worth approximately $45,266,000. Squarepoint Ops LLC increased its holdings in Graphic Packaging by 20.3% during the 2nd quarter. Squarepoint Ops LLC now owns 4,155,774 shares of the industrial products company’s stock worth $43,927,000 after acquiring an additional 701,762 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new stake in Graphic Packaging during the 2nd quarter worth approximately $43,335,000. 99.67% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GPK has been the subject of several analyst reports. UBS Group raised their price target on shares of Graphic Packaging from $9.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Raymond James Financial reaffirmed an “underperform” rating on shares of Graphic Packaging in a report on Wednesday, November 4th. Citigroup decreased their price target on shares of Graphic Packaging from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Wells Fargo & Company lowered their price objective on Graphic Packaging from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Finally, Truist Financial set a $9.00 price objective on Graphic Packaging in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Graphic Packaging currently has an average rating of “Reduce” and an average target price of $11.01.
View Our Latest Stock Analysis on Graphic Packaging
Graphic Packaging Trading Down 3.2%
Shares of GPK stock opened at $10.84 on Tuesday. The business has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $10.61. Graphic Packaging Holding Company has a 12-month low of $8.15 and a 12-month high of $16.61. The company has a quick ratio of 0.60, a current ratio of 1.19 and a debt-to-equity ratio of 1.45. The firm has a market cap of $3.21 billion, a P/E ratio of 43.34 and a beta of 0.65.
Graphic Packaging (NYSE:GPK – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Graphic Packaging had a return on equity of 6.78% and a net margin of 0.86%. Graphic Packaging’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. Equities analysts anticipate that Graphic Packaging Holding Company will post 0.68 EPS for the current fiscal year.
About Graphic Packaging
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