Clear Harbor Asset Management LLC Sells 1,790 Shares of Graphic Packaging Holding (NYSE:GPK)

Clear Harbor Asset Management LLC cut its position in shares of Graphic Packaging Holding (NYSE:GPK) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,775 shares of the industrial products company’s stock after selling 1,790 shares during the period. Clear Harbor Asset Management LLC’s holdings in Graphic Packaging were worth $836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GPK. Hsbc Holdings PLC raised its holdings in shares of Graphic Packaging by 268.7% in the second quarter. Hsbc Holdings PLC now owns 51,261 shares of the industrial products company’s stock valued at $1,350,000 after acquiring an additional 37,358 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock valued at $313,957,000 after purchasing an additional 787,266 shares in the last quarter. Raymond James & Associates lifted its position in shares of Graphic Packaging by 23.9% in the 3rd quarter. Raymond James & Associates now owns 707,969 shares of the industrial products company’s stock worth $20,949,000 after purchasing an additional 136,342 shares during the period. Private Advisor Group LLC increased its holdings in Graphic Packaging by 26.1% during the third quarter. Private Advisor Group LLC now owns 27,575 shares of the industrial products company’s stock valued at $816,000 after buying an additional 5,699 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Graphic Packaging in the third quarter worth approximately $886,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPK has been the topic of several recent research reports. Truist Financial increased their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada decreased their price objective on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Citigroup restated a “neutral” rating and issued a $30.00 price target (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.37.

Graphic Packaging Stock Performance

GPK opened at $28.32 on Wednesday. The firm’s 50-day moving average price is $28.24 and its 200-day moving average price is $28.61. The company has a market cap of $8.50 billion, a P/E ratio of 12.10 and a beta of 0.85. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 EPS 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 company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Graphic Packaging Holding will post 2.53 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, December 13th. Graphic Packaging’s payout ratio is 17.09%.

Insider Buying and Selling

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

Graphic Packaging Profile

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.