Allspring Global Investments Holdings LLC Purchases 2,927,344 Shares of Graphic Packaging Holding (NYSE:GPK)

Allspring Global Investments Holdings LLC raised its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,800,425 shares of the industrial products company's stock after purchasing an additional 2,927,344 shares during the period. Graphic Packaging makes up about 0.7% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 17th largest holding. Allspring Global Investments Holdings LLC owned approximately 4.82% of Graphic Packaging worth $437,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Graphic Packaging in the 1st quarter valued at about $26,000. UMB Bank n.a. increased its holdings in shares of Graphic Packaging by 546.6% during the third quarter. UMB Bank n.a. now owns 944 shares of the industrial products company's stock worth $28,000 after buying an additional 798 shares in the last quarter. LRI Investments LLC bought a new position in shares of Graphic Packaging in the 1st quarter valued at $38,000. GAMMA Investing LLC boosted 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 in the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Graphic Packaging during the 2nd quarter worth $88,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the transaction, the chief executive officer now directly owns 1,909,576 shares of the company's stock, valued at $53,296,266.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Doss sold 86,374 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GPK. Robert W. Baird lifted their price target on Graphic Packaging from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Stifel Nicolaus started coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They issued a "buy" rating and a $35.20 price target for the company. Truist Financial cut their price target on shares of Graphic Packaging from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. StockNews.com lowered Graphic Packaging from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Wells Fargo & Company upped their price target on Graphic Packaging from $21.00 to $24.00 and gave the company an "underweight" rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.60.

Graphic Packaging Trading Up 1.1 %

Shares of Graphic Packaging stock traded up $0.32 on Friday, hitting $30.10. 2,600,178 shares of the company's stock traded hands, compared to its average volume of 2,510,227. The company has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.13. Graphic Packaging Holding has a one year low of $20.07 and a one year high of $30.66. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 5.08 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same period in the prior year, the business earned $0.66 EPS. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Graphic Packaging Holding will post 2.66 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, October 5th. Investors of record on Sunday, September 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, September 13th. Graphic Packaging's payout ratio is 18.10%.

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.