Impax Asset Management Group plc Lowers Position in Graphic Packaging Holding (NYSE:GPK)

Impax Asset Management Group plc trimmed its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,519,697 shares of the industrial products company's stock after selling 680,147 shares during the period. Impax Asset Management Group plc owned approximately 1.17% of Graphic Packaging worth $94,835,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GPK. Synergy Asset Management LLC boosted its stake in Graphic Packaging by 108.6% during the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company's stock worth $1,810,000 after acquiring an additional 33,493 shares in the last quarter. Howard Capital Management Group LLC raised its holdings in shares of Graphic Packaging by 1.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company's stock valued at $27,734,000 after purchasing an additional 13,175 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Graphic Packaging by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock worth $313,957,000 after purchasing an additional 787,266 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at about $51,642,000. Finally, Advocate Group LLC increased its position in Graphic Packaging by 14.5% in the 4th quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company's stock valued at $6,149,000 after buying an additional 28,703 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Remove Ads

Graphic Packaging Stock Down 2.8 %

NYSE GPK traded down $0.75 on Thursday, reaching $26.27. The company had a trading volume of 3,360,345 shares, compared to its average volume of 2,342,143. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $7.89 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.10 and a beta of 0.84. The company's fifty day moving average is $27.14 and its 200 day moving average is $28.48. Graphic Packaging Holding has a 52-week low of $25.13 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be paid a $0.11 dividend. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, March 14th. Graphic Packaging's payout ratio is currently 20.37%.

Analysts Set New Price Targets

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

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.