Glenmede Trust Co. NA Has $18.32 Million Stake in Graphic Packaging Holding (NYSE:GPK)

Glenmede Trust Co. NA reduced its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 34.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 619,010 shares of the industrial products company's stock after selling 323,585 shares during the period. Glenmede Trust Co. NA owned about 0.21% of Graphic Packaging worth $18,317,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position in Graphic Packaging by 546.6% in the 3rd quarter. UMB Bank n.a. now owns 944 shares of the industrial products company's stock worth $28,000 after purchasing an additional 798 shares during the last quarter. Truvestments Capital LLC acquired a new position in Graphic Packaging in the 3rd quarter worth about $30,000. LRI Investments LLC acquired a new position in Graphic Packaging in the 1st quarter worth about $38,000. GAMMA Investing LLC increased its holdings in shares of Graphic Packaging by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,744 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 868 shares during the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Graphic Packaging during the 2nd quarter valued at about $88,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

GPK traded up $0.10 during midday trading on Friday, reaching $30.11. The company's stock had a trading volume of 1,022,415 shares, compared to its average volume of 2,539,908. The stock has a market cap of $9.04 billion, a P/E ratio of 12.82, a PEG ratio of 11.67 and a beta of 0.83. The company has a fifty day simple moving average of $29.12 and a 200 day simple moving average of $28.41. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. Graphic Packaging Holding has a twelve month low of $22.49 and a twelve month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.04). The business had revenue of $2.22 billion during 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 quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Research analysts expect that Graphic Packaging Holding will post 2.52 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be given a $0.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%. Graphic Packaging's dividend payout ratio is currently 17.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GPK. Truist Financial lowered Graphic Packaging from a "buy" rating to a "hold" rating and lowered their price objective for the company from $32.00 to $30.00 in a report on Wednesday, October 30th. StockNews.com lowered Graphic Packaging from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lowered their price objective on Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $31.53.

Insiders Place Their Bets

In related news, CAO Charles D. Lischer sold 12,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 49,849 shares in the company, valued at $1,478,022.85. This trade represents a 19.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael James Farrell sold 25,900 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the transaction, the executive vice president now owns 81,026 shares of the company's stock, valued at $2,348,943.74. This trade represents a 24.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

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.