Handelsbanken Fonder AB Trims Stock Holdings in Graphic Packaging Holding Company $GPK

Handelsbanken Fonder AB reduced its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 96.7% in the third quarter, Holdings Channel.com reports. The fund owned 78,152 shares of the industrial products company’s stock after selling 2,287,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Graphic Packaging were worth $1,529,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GPK. American Century Companies Inc. increased its stake in Graphic Packaging by 19.1% in the second quarter. American Century Companies Inc. now owns 22,022,347 shares of the industrial products company’s stock worth $464,011,000 after purchasing an additional 3,533,846 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Graphic Packaging by 32.6% in the third quarter. JPMorgan Chase & Co. now owns 11,501,251 shares of the industrial products company’s stock worth $225,080,000 after purchasing an additional 2,828,094 shares during the last quarter. Norges Bank purchased a new position in Graphic Packaging in the 2nd quarter worth about $55,632,000. Allspring Global Investments Holdings LLC lifted its holdings in Graphic Packaging by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,138,977 shares of the industrial products company’s stock valued at $374,550,000 after buying an additional 1,502,681 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Graphic Packaging by 11.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,570,040 shares of the industrial products company’s stock valued at $243,781,000 after buying an additional 1,218,848 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Insider Activity at Graphic Packaging

In other news, CEO Robbert Rietbroek bought 44,278 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average price of $11.32 per share, with a total value of $501,226.96. Following the completion of the transaction, the chief executive officer directly owned 44,278 shares of the company’s stock, valued at approximately $501,226.96. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.41% of the stock is currently owned by company insiders.

Graphic Packaging Stock Down 0.6%

Shares of NYSE GPK opened at $11.21 on Thursday. The stock has a market capitalization of $3.31 billion, a PE ratio of 7.57 and a beta of 0.65. The company has a current ratio of 1.30, a quick ratio of 0.52 and a debt-to-equity ratio of 1.50. Graphic Packaging Holding Company has a 12-month low of $11.02 and a 12-month high of $28.19. The stock’s fifty day simple moving average is $14.01 and its two-hundred day simple moving average is $16.64.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.24 earnings per share for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The firm had revenue of $2.10 billion during the quarter. As a group, analysts expect that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Sunday, March 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.9%. Graphic Packaging’s payout ratio is presently 29.73%.

Wall Street Analysts Forecast Growth

GPK has been the topic of a number of research reports. Royal Bank Of Canada set a $13.00 target price on shares of Graphic Packaging in a research report on Wednesday, February 4th. Zacks Research cut Graphic Packaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. UBS Group decreased their target price on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Truist Financial set a $14.00 target price on Graphic Packaging in a report on Wednesday, February 4th. Finally, Wells Fargo & Company cut their price target on Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 4th. Eight research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $16.63.

Graphic Packaging Company Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.