Glenmede Trust Co. NA Increases Stock Holdings in Graphic Packaging Holding Company $GPK

Glenmede Trust Co. NA grew its stake in Graphic Packaging Holding Company (NYSE:GPK) by 84.7% during the first quarter, HoldingsChannel reports. The firm owned 905,924 shares of the industrial products company’s stock after purchasing an additional 415,477 shares during the quarter. Glenmede Trust Co. NA’s holdings in Graphic Packaging were worth $9,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of GPK. Quarry LP increased its stake in Graphic Packaging by 282.0% in the 3rd quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Graphic Packaging by 13,971.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,956 shares during the period. Physician Wealth Advisors Inc. lifted its stake in shares of Graphic Packaging by 2,321.1% in the 1st quarter. Physician Wealth Advisors Inc. now owns 3,220 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 3,087 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Graphic Packaging by 259.4% in the first quarter. Bessemer Group Inc. now owns 4,148 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 2,994 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Graphic Packaging during the third quarter worth about $45,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey Stafeil bought 17,878 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were bought at an average cost of $11.19 per share, for a total transaction of $200,054.82. Following the completion of the transaction, the director owned 17,878 shares in the company, valued at $200,054.82. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Graphic Packaging Stock Up 5.8%

GPK stock opened at $11.36 on Tuesday. Graphic Packaging Holding Company has a 52 week low of $8.78 and a 52 week high of $23.47. The company has a current ratio of 1.41, a quick ratio of 0.59 and a debt-to-equity ratio of 1.60. The company has a market cap of $3.36 billion, a P/E ratio of 12.34 and a beta of 0.66. The company’s 50-day moving average price is $10.77 and its 200 day moving average price is $11.09.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.05 billion. Graphic Packaging had a net margin of 3.17% and a return on equity of 12.62%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. On average, research analysts expect that Graphic Packaging Holding Company will post 0.75 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 annualized dividend and a yield of 3.9%. Graphic Packaging’s payout ratio is currently 47.83%.

Analyst Ratings Changes

GPK has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Graphic Packaging from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Citigroup boosted their target price on Graphic Packaging from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their target price on Graphic Packaging from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 15th. UBS Group raised their price target on Graphic Packaging from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. started coverage on Graphic Packaging in a research note on Monday, June 29th. They issued a “neutral” rating and a $11.70 price target on the stock. Nine equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Graphic Packaging currently has an average rating of “Reduce” and a consensus target price of $11.03.

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.