Truvestments Capital LLC Acquires New Stake in Graphic Packaging Holding (NYSE:GPK)

Truvestments Capital LLC acquired a new position in shares of Graphic Packaging Holding (NYSE:GPK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,029 shares of the industrial products company’s stock, valued at approximately $30,000.

Several other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in Graphic Packaging by 41.9% in the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock valued at $317,549,000 after purchasing an additional 3,576,877 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Graphic Packaging by 24.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock valued at $437,945,000 after acquiring an additional 2,927,344 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Graphic Packaging by 7.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after buying an additional 706,486 shares during the period. Sei Investments Co. boosted its position in shares of Graphic Packaging by 33.2% in the second quarter. Sei Investments Co. now owns 1,719,878 shares of the industrial products company’s stock worth $45,078,000 after acquiring an additional 428,278 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Graphic Packaging during the 3rd quarter valued at $11,079,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Trading Up 1.4 %

Graphic Packaging stock opened at $30.01 on Friday. The company has a 50 day moving average price of $29.13 and a 200 day moving average price of $28.40. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. Graphic Packaging Holding has a 52 week low of $22.12 and a 52 week high of $30.70. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 11.51 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. Research analysts forecast that Graphic Packaging Holding will post 2.52 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th will be paid a $0.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.33%. Graphic Packaging’s dividend payout ratio is currently 17.09%.

Insider Buying and Selling at Graphic Packaging

In other Graphic Packaging news, CAO Charles D. Lischer sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the transaction, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael James Farrell sold 25,900 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the sale, the executive vice president now owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. This represents a 24.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GPK. Royal Bank of Canada decreased their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Truist Financial lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $30.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.53.

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.