New York State Common Retirement Fund Has $5.80 Million Position in Graphic Packaging Holding (GPK)
New York State Common Retirement Fund lowered its position in shares of Graphic Packaging Holding (NYSE:GPK) by 65.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545,000 shares of the industrial products company’s stock after selling 1,031,865 shares during the quarter. New York State Common Retirement Fund owned approximately 0.18% of Graphic Packaging worth $5,799,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPK. Fuller & Thaler Asset Management Inc. boosted its position in Graphic Packaging by 101,909.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 7,722,108 shares of the industrial products company’s stock worth $108,187,000 after acquiring an additional 7,714,538 shares during the last quarter. Ashler Capital LLC purchased a new position in Graphic Packaging during the third quarter worth approximately $37,075,000. Janus Henderson Group PLC raised its stake in Graphic Packaging by 25.5% during the third quarter. Janus Henderson Group PLC now owns 12,362,580 shares of the industrial products company’s stock worth $173,200,000 after purchasing an additional 2,513,458 shares during the period. Key Group Holdings Cayman LTD. raised its stake in Graphic Packaging by 1,005.9% during the third quarter. Key Group Holdings Cayman LTD. now owns 663,523 shares of the industrial products company’s stock worth $9,296,000 after purchasing an additional 603,523 shares during the period. Finally, Peregrine Capital Management LLC purchased a new position in Graphic Packaging during the fourth quarter worth approximately $6,394,000.
In other Graphic Packaging news, Director Robert Hagemann bought 15,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average price of $12.25 per share, with a total value of $183,750.00. Following the purchase, the director now owns 65,329 shares in the company, valued at approximately $800,280.25. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.62% of the company’s stock.
Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, January 29th. The industrial products company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Graphic Packaging had a net margin of 3.67% and a return on equity of 11.67%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities analysts predict that Graphic Packaging Holding will post 0.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, March 14th. Graphic Packaging’s dividend payout ratio is presently 37.04%.
A number of equities analysts have weighed in on GPK shares. Zacks Investment Research raised shares of Graphic Packaging from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. UBS Group started coverage on shares of Graphic Packaging in a research note on Friday, January 4th. They set a “neutral” rating and a $11.50 price target on the stock. Seaport Global Securities started coverage on shares of Graphic Packaging in a research note on Tuesday, December 11th. They set a “neutral” rating on the stock. Finally, ValuEngine downgraded shares of Graphic Packaging from a “hold” rating to a “sell” rating in a research note on Monday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.88.
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Graphic Packaging Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
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