Assetmark Inc. Raises Holdings in Graphic Packaging Holding (NYSE:GPK)

Assetmark Inc. boosted its position in Graphic Packaging Holding (NYSE:GPK - Free Report) by 846.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,383 shares of the industrial products company's stock after purchasing an additional 75,467 shares during the period. Assetmark Inc.'s holdings in Graphic Packaging were worth $2,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

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

Insider Activity at Graphic Packaging

In other news, EVP Michael James Farrell sold 25,900 shares of the firm'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 transaction, the executive vice president now directly owns 81,026 shares in the company, valued at $2,348,943.74. This trade represents a 24.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Graphic Packaging Stock Down 0.9 %

Shares of Graphic Packaging stock traded down $0.25 during trading on Thursday, reaching $28.38. The company's stock had a trading volume of 2,033,843 shares, compared to its average volume of 2,560,548. The company has a 50-day simple moving average of $29.26 and a two-hundred day simple moving average of $28.28. Graphic Packaging Holding has a 1-year low of $21.99 and a 1-year high of $30.70. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 11.31 and a beta of 0.83. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78.

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

Graphic Packaging 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.