Empowered Funds LLC Cuts Stake in Graphic Packaging Holding (NYSE:GPK)

17 Nov 2024, 05:33 by Scott Moore · The Cerbat Gem

Empowered Funds LLC cut its holdings in Graphic Packaging Holding (NYSE:GPK – Free Report) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,145 shares of the industrial products company’s stock after selling 7,429 shares during the quarter. Empowered Funds LLC owned approximately 0.08% of Graphic Packaging worth $7,491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Metis Global Partners LLC lifted its position in shares of Graphic Packaging by 36.4% in the 3rd quarter. Metis Global Partners LLC now owns 18,038 shares of the industrial products company’s stock worth $534,000 after purchasing an additional 4,809 shares during the period. KBC Group NV lifted its holdings in Graphic Packaging by 1.8% during the third quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after buying an additional 465 shares during the period. MQS Management LLC purchased a new position in shares of Graphic Packaging in the 3rd quarter valued at $454,000. Aptus Capital Advisors LLC lifted its stake in shares of Graphic Packaging by 26.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 169,693 shares of the industrial products company’s stock worth $5,021,000 after purchasing an additional 35,380 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Graphic Packaging during the third quarter valued at about $271,000. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Down 0.5 %

Graphic Packaging stock opened at $28.24 on Friday. Graphic Packaging Holding has a fifty-two week low of $22.04 and a fifty-two week high of $30.70. The company has a market cap of $8.48 billion, a PE ratio of 12.07, a PEG ratio of 11.13 and a beta of 0.83. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. The business’s 50-day simple moving average is $29.23 and its two-hundred day simple moving average is $28.30.

Graphic Packaging (NYSE:GPK – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company posted $0.74 EPS. Graphic Packaging’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Graphic Packaging Holding will post 2.52 EPS for the current year.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, December 13th. Graphic Packaging’s payout ratio is 17.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Robert W. Baird boosted their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada decreased their target price 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. Wells Fargo & Company upped their price target on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Truist Financial lowered Graphic Packaging from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $30.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Graphic Packaging currently has an average rating of “Hold” and a consensus target price of $31.53.

Read Our Latest Analysis on Graphic Packaging

Insiders Place Their Bets

In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the transaction, the executive vice president now directly owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. The trade was a 24.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

About Graphic Packaging

(Free Report)