Graphic Packaging Holding (NYSE:GPK) Stake Lowered by Amalgamated Bank

Amalgamated Bank reduced its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 25.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,954 shares of the industrial products company's stock after selling 49,072 shares during the quarter. Amalgamated Bank's holdings in Graphic Packaging were worth $4,230,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. 1832 Asset Management L.P. increased its stake in Graphic Packaging by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company's stock valued at $860,000 after purchasing an additional 369 shares in the last quarter. Graypoint LLC increased its stake in Graphic Packaging by 2.4% in the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company's stock valued at $458,000 after purchasing an additional 402 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Graphic Packaging by 0.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company's stock valued at $1,422,000 after purchasing an additional 406 shares in the last quarter. Fiduciary Family Office LLC increased its stake in Graphic Packaging by 2.6% in the 2nd quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company's stock valued at $441,000 after purchasing an additional 423 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Graphic Packaging by 1.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 42,857 shares of the industrial products company's stock valued at $1,123,000 after purchasing an additional 497 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Truist Financial downgraded Graphic Packaging from a "buy" rating to a "hold" rating and dropped their price objective for the company from $32.00 to $30.00 in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on Graphic Packaging from $21.00 to $24.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 31st. StockNews.com downgraded Graphic Packaging from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on Graphic Packaging from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada dropped their price target on Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $31.53.

Insider Transactions at Graphic Packaging

In related news, EVP Michael James Farrell sold 25,900 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the sale, the executive vice president now directly owns 81,026 shares of the company's stock, valued at $2,348,943.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Graphic Packaging Trading Up 1.5 %

Graphic Packaging stock traded up $0.43 during midday trading on Friday, reaching $29.48. The stock had a trading volume of 2,166,523 shares, compared to its average volume of 3,267,799. Graphic Packaging Holding has a twelve month low of $21.25 and a twelve month high of $30.70. The stock has a market capitalization of $8.85 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 11.29 and a beta of 0.83. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. The stock's 50-day simple moving average is $29.28 and its 200 day simple moving average is $28.24.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts expect that Graphic Packaging Holding will post 2.52 EPS for the current year.

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.