Amalgamated Bank boosted its holdings in shares of Graphic Packaging Holding (NYSE:GPK – Get Rating) by 67.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,248 shares of the industrial products company’s stock after buying an additional 44,839 shares during the quarter. Amalgamated Bank’s holdings in Graphic Packaging were worth $2,475,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in GPK. Accurate Wealth Management LLC acquired a new stake in Graphic Packaging during the 4th quarter worth approximately $34,000. Belpointe Asset Management LLC acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at $45,000. IFP Advisors Inc raised its holdings in shares of Graphic Packaging by 1,275.3% in the 3rd quarter. IFP Advisors Inc now owns 2,668 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 2,474 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Graphic Packaging by 22.3% in the 4th quarter. Assetmark Inc. now owns 2,810 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 513 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Graphic Packaging by 39.2% in the 4th quarter. CWM LLC now owns 3,282 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 924 shares in the last quarter. 94.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on GPK. Seaport Res Ptn restated a “buy” rating on shares of Graphic Packaging in a report on Wednesday, May 3rd. StockNews.com began coverage on shares of Graphic Packaging in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Graphic Packaging from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, February 8th. Raymond James raised their price objective on shares of Graphic Packaging from $29.00 to $30.00 in a report on Wednesday, May 3rd. Finally, Mizuho increased their target price on shares of Graphic Packaging from $30.00 to $31.00 in a research report on Wednesday, May 3rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.25.
Graphic Packaging Trading Up 3.5 %
Graphic Packaging (NYSE:GPK – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.15. Graphic Packaging had a net margin of 6.46% and a return on equity of 38.99%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm posted $0.48 EPS. Graphic Packaging’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Graphic Packaging Holding will post 3.03 earnings per share for the current fiscal year.
Graphic Packaging Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, June 14th. Graphic Packaging’s payout ratio is currently 20.00%.
Insiders Place Their Bets
In other Graphic Packaging news, CFO Stephen R. Scherger sold 160,492 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 427,548 shares of the company’s stock, valued at approximately $11,035,013.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.
Graphic Packaging Profile
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.
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