Allspring Global Investments Holdings LLC Boosts Stock Position in Graphic Packaging Holding (NYSE:GPK)

Allspring Global Investments Holdings LLC increased its position in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,503,189 shares of the industrial products company's stock after buying an additional 1,702,764 shares during the period. Graphic Packaging comprises about 0.7% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 16th biggest position. Allspring Global Investments Holdings LLC owned 5.50% of Graphic Packaging worth $441,990,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Graphic Packaging by 546.6% in the third quarter. UMB Bank n.a. now owns 944 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 798 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Graphic Packaging in the third quarter valued at approximately $30,000. Crews Bank & Trust acquired a new stake in shares of Graphic Packaging in the fourth quarter valued at approximately $32,000. Avior Wealth Management LLC boosted its holdings in shares of Graphic Packaging by 2,484.0% in the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 1,242 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Graphic Packaging in the third quarter valued at approximately $73,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price objective on Graphic Packaging from $30.00 to $32.00 and gave the company a "hold" rating in a report on Monday, January 6th. Robert W. Baird decreased their price target on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded Graphic Packaging from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Citigroup reaffirmed a "neutral" rating and set a $30.00 price target (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, Wells Fargo & Company raised Graphic Packaging from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Graphic Packaging presently has an average rating of "Hold" and a consensus price target of $31.70.

Insider Activity

In related news, CAO Charles D. Lischer sold 12,000 shares of Graphic Packaging stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the completion of the sale, the chief accounting officer now owns 49,849 shares in the company, valued at approximately $1,478,022.85. This trade represents a 19.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Graphic Packaging Price Performance

NYSE:GPK traded up $0.13 during trading hours on Friday, hitting $26.73. The company's stock had a trading volume of 1,485,463 shares, compared to its average volume of 2,527,352. The business's 50-day moving average is $27.47 and its two-hundred day moving average is $28.57. The company has a market capitalization of $8.02 billion, a PE ratio of 12.38, a PEG ratio of 2.07 and a beta of 0.84. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.72 and a current ratio of 1.46. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.04). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The company's quarterly revenue was down 6.8% compared to the same quarter last year. As a group, research analysts anticipate that Graphic Packaging Holding will post 2.51 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.65%. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. Graphic Packaging's dividend payout ratio (DPR) is currently 18.52%.

About Graphic Packaging

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.