Prudential Financial Inc. Has $243,000 Position in Graphic Packaging Holding Company (GPK)
Prudential Financial Inc. lessened its position in Graphic Packaging Holding Company (NYSE:GPK) by 68.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,389 shares of the industrial products company’s stock after selling 38,300 shares during the period. Prudential Financial Inc.’s holdings in Graphic Packaging were worth $243,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in GPK. Russell Investments Group Ltd. lifted its stake in shares of Graphic Packaging by 101.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 32,045 shares of the industrial products company’s stock worth $442,000 after buying an additional 16,119 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Graphic Packaging by 8.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 377,500 shares of the industrial products company’s stock worth $5,202,000 after buying an additional 31,000 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Graphic Packaging by 2.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,430,683 shares of the industrial products company’s stock worth $19,715,000 after buying an additional 40,286 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Graphic Packaging by 23.6% during the 2nd quarter. SG Americas Securities LLC now owns 14,382 shares of the industrial products company’s stock worth $198,000 after buying an additional 2,746 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Graphic Packaging by 10.1% in 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 purchasing an additional 205,991 shares in the last quarter. 96.90% of the stock is owned by institutional investors.
Several analysts have weighed in on GPK shares. Zacks Investment Research upgraded shares of Graphic Packaging from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Graphic Packaging in a research note on Sunday, October 29th. BMO Capital Markets reiterated a “buy” rating and issued a $15.50 price objective on shares of Graphic Packaging in a research note on Friday, September 1st. Stephens started coverage on shares of Graphic Packaging in a research note on Tuesday, October 24th. They issued an “overweight” rating and a $17.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on shares of Graphic Packaging from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $16.26.
Shares of Graphic Packaging Holding Company (NYSE GPK) traded down $0.12 during trading hours on Wednesday, hitting $15.32. 1,620,500 shares of the stock traded hands, compared to its average volume of 3,897,915. The firm has a market cap of $4,740.00, a PE ratio of 25.31, a PEG ratio of 4.73 and a beta of 1.19. The company has a quick ratio of 0.74, a current ratio of 1.50 and a debt-to-equity ratio of 1.96. Graphic Packaging Holding Company has a one year low of $12.00 and a one year high of $15.85.
Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Graphic Packaging had a net margin of 3.70% and a return on equity of 17.27%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. sell-side analysts forecast that Graphic Packaging Holding Company will post 0.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, December 14th. Graphic Packaging’s dividend payout ratio (DPR) is presently 58.82%.
In related news, VP Deborah R. Frank sold 38,266 shares of Graphic Packaging stock in a transaction that occurred 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 sale, the vice president now directly owns 77,139 shares of the company’s stock, valued at approximately $1,196,425.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company’s stock.
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About Graphic Packaging
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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