Tectonic Advisors LLC Sells 48,051 Shares of Graphic Packaging Holding (NYSE:GPK)

Tectonic Advisors LLC lowered its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,525 shares of the industrial products company's stock after selling 48,051 shares during the period. Tectonic Advisors LLC owned about 0.09% of Graphic Packaging worth $8,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas bought a new position in shares of Graphic Packaging in the 1st quarter valued at about $935,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Graphic Packaging by 43.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company's stock valued at $5,916,000 after acquiring an additional 61,102 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Graphic Packaging by 171.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company's stock valued at $17,631,000 after acquiring an additional 381,112 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Graphic Packaging by 4.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 832,035 shares of the industrial products company's stock valued at $23,907,000 after acquiring an additional 33,691 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Graphic Packaging by 99.6% in the 1st quarter. Cetera Investment Advisers now owns 104,490 shares of the industrial products company's stock valued at $3,049,000 after acquiring an additional 52,139 shares during the period. Institutional investors own 99.67% of the company's stock.

Graphic Packaging Price Performance

Shares of NYSE:GPK traded down $0.39 during midday trading on Friday, hitting $29.65. The stock had a trading volume of 2,347,985 shares, compared to its average volume of 2,508,143. The company's 50-day moving average price is $29.37 and its 200-day moving average price is $28.18. The company has a market capitalization of $9.11 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 5.08 and a beta of 0.83. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Graphic Packaging Holding has a fifty-two week low of $20.69 and a fifty-two week high of $30.66.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. As a group, equities research analysts predict that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, September 13th. Graphic Packaging's payout ratio is presently 18.10%.

Analysts Set New Price Targets

GPK has been the subject of a number of research reports. Truist Financial cut their target price on shares of Graphic Packaging from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Citigroup cut their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, July 8th. Wells Fargo & Company raised their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 31st. Royal Bank of Canada cut their target price on shares of Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Finally, Robert W. Baird raised their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.87.

Insider Activity

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

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.