Truist Financial Corp Buys 14,030 Shares of Graphic Packaging Holding (NYSE:GPK)

Truist Financial Corp lifted its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,302 shares of the industrial products company's stock after acquiring an additional 14,030 shares during the period. Truist Financial Corp owned approximately 0.08% of Graphic Packaging worth $6,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Truvestments Capital LLC purchased a new stake in Graphic Packaging during the 3rd quarter worth about $30,000. Crews Bank & Trust bought a new stake in Graphic Packaging in the fourth quarter worth $32,000. Avior Wealth Management LLC raised its position in Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock worth $35,000 after buying an additional 1,242 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock worth $41,000 after buying an additional 549 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Graphic Packaging in the third quarter worth $73,000. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Down 0.7 %

GPK traded down $0.20 during trading on Wednesday, reaching $26.98. 412,788 shares of the stock traded hands, compared to its average volume of 2,294,727. The stock's 50-day simple moving average is $27.15 and its two-hundred day simple moving average is $28.49. Graphic Packaging Holding has a fifty-two week low of $25.13 and a fifty-two week high of $30.70. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54.

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Graphic Packaging (NYSE:GPK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business's quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. Graphic Packaging's payout ratio is currently 20.37%.

Analysts Set New Price Targets

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

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.