Van ECK Associates Corp Has $204,000 Stock Position in Graphic Packaging Holding (NYSE:GPK)

Posted by Defense World Staff on May 18th, 2023

Van ECK Associates Corp raised its stake in shares of Graphic Packaging Holding (NYSE:GPK – Get Rating) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,152 shares of the industrial products company’s stock after purchasing an additional 903 shares during the quarter. Van ECK Associates Corp’s holdings in Graphic Packaging were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Graphic Packaging by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 29,127,808 shares of the industrial products company’s stock worth $574,983,000 after acquiring an additional 566,205 shares in the last quarter. BlackRock Inc. raised its position in shares of Graphic Packaging by 10.0% during the 3rd quarter. BlackRock Inc. now owns 17,310,833 shares of the industrial products company’s stock valued at $341,716,000 after acquiring an additional 1,577,742 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Graphic Packaging by 70.0% in the 1st quarter. Wellington Management Group LLP now owns 10,911,606 shares of the industrial products company’s stock valued at $218,669,000 after buying an additional 4,493,702 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Graphic Packaging by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,479,320 shares of the industrial products company’s stock valued at $169,934,000 after buying an additional 132,255 shares during the period. Finally, State Street Corp grew its holdings in shares of Graphic Packaging by 3.4% in the 3rd quarter. State Street Corp now owns 4,691,246 shares of the industrial products company’s stock valued at $92,953,000 after buying an additional 156,420 shares during the period. 94.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GPK has been the subject of several research analyst reports. Raymond James boosted their price target on shares of Graphic Packaging from $29.00 to $30.00 in a report on Wednesday, May 3rd. Mizuho upped their target price on shares of Graphic Packaging from $30.00 to $31.00 in a research note on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Graphic Packaging from $28.00 to $30.00 in a research note on Wednesday, May 3rd. StockNews.com started coverage on shares of Graphic Packaging in a research note on Thursday. They issued a “buy” rating for the company. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Graphic Packaging in a research note on Wednesday, May 3rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $28.78.

Insider Transactions at Graphic Packaging

In other news, EVP Joseph P. Yost sold 60,000 shares of Graphic Packaging stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $23.99, for a total transaction of $1,439,400.00. Following the transaction, the executive vice president now owns 209,250 shares in the company, valued at $5,019,907.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Stephen R. Scherger sold 160,492 shares of Graphic Packaging stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $25.81, for a total transaction of $4,142,298.52. Following the completion of the transaction, the chief financial officer now directly owns 427,548 shares in the company, valued at $11,035,013.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph P. Yost sold 60,000 shares of Graphic Packaging stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $23.99, for a total transaction of $1,439,400.00. Following the transaction, the executive vice president now owns 209,250 shares of the company’s stock, valued at $5,019,907.50. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Graphic Packaging Stock Up 1.1 %

Shares of GPK opened at $25.77 on Thursday. Graphic Packaging Holding has a 12 month low of $19.08 and a 12 month high of $26.16. The firm’s 50 day moving average is $24.81 and its 200-day moving average is $23.51. The stock has a market capitalization of $7.91 billion, a PE ratio of 12.89, a P/E/G ratio of 0.34 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 0.64 and a debt-to-equity ratio of 2.36.

Graphic Packaging (NYSE:GPK – Get Rating) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.62 by $0.15. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Graphic Packaging had a net margin of 6.46% and a return on equity of 38.99%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Equities research analysts forecast that Graphic Packaging Holding will post 3.03 EPS for the current year.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. Graphic Packaging’s dividend payout ratio is currently 20.00%.

Graphic Packaging Profile

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Graphic Packaging Holding Co engages in the provision of paper-based packaging solutions for a variety of products to food, beverage and other consumer products companies. It operates through the following business segments: Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other.