Carnegie Lake Advisors LLC Sells 4,600 Shares of Graphic Packaging Holding (NYSE:GPK)

Carnegie Lake Advisors LLC cut its holdings in Graphic Packaging Holding (NYSE:GPK) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,550 shares of the industrial products company’s stock after selling 4,600 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Graphic Packaging were worth $1,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPK. Synergy Asset Management LLC grew its holdings in shares of Graphic Packaging by 108.6% during the 4th quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company’s stock valued at $1,810,000 after purchasing an additional 33,493 shares during the last quarter. Howard Capital Management Group LLC grew its stake in shares of Graphic Packaging by 1.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company’s stock worth $27,734,000 after buying an additional 13,175 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Graphic Packaging by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after buying an additional 787,266 shares in the last quarter. Raymond James & Associates lifted its stake 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 valued at $20,949,000 after acquiring an additional 136,342 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Graphic Packaging during the 4th quarter valued at $51,642,000. Institutional investors own 99.67% of the company’s stock.

Insider Buying and Selling at Graphic Packaging

In other news, CAO Charles D. Lischer sold 12,000 shares of Graphic Packaging stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the sale, the chief accounting officer now owns 49,849 shares in the company, valued at $1,478,022.85. The trade was a 19.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Graphic Packaging Stock Down 0.1 %

Shares of NYSE GPK opened at $26.41 on Tuesday. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.72 and a current ratio of 1.46. The company’s 50 day moving average price is $27.72 and its 200-day moving average price is $28.62. The company has a market capitalization of $7.93 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.84.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the company posted $0.75 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. Equities analysts forecast that Graphic Packaging Holding will post 2.51 earnings per share for the current year.

Graphic Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be issued a $0.11 dividend. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 14th. Graphic Packaging’s payout ratio is presently 18.52%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GPK. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Truist Financial raised their price objective on shares of Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Robert W. Baird reduced their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reduced their price objective on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.70.

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.