Graphic Packaging Holding Company (NYSE:GPK) Shares Sold by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC trimmed its position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 23.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 867,642 shares of the industrial products company's stock after selling 268,267 shares during the quarter. Graphic Packaging accounts for approximately 3.8% of 12th Street Asset Management Company LLC's portfolio, making the stock its 12th largest holding. 12th Street Asset Management Company LLC owned about 0.29% of Graphic Packaging worth $22,524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Menard Financial Group LLC lifted its holdings in shares of Graphic Packaging by 11.5% during the 1st quarter. Menard Financial Group LLC now owns 20,121 shares of the industrial products company's stock valued at $522,000 after acquiring an additional 2,079 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Graphic Packaging by 12.2% in the first quarter. Natixis Advisors LLC now owns 82,015 shares of the industrial products company's stock valued at $2,129,000 after buying an additional 8,911 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Graphic Packaging by 1.9% during the 1st quarter. NorthRock Partners LLC now owns 30,986 shares of the industrial products company's stock valued at $808,000 after buying an additional 563 shares during the period. Inspire Advisors LLC lifted its position in Graphic Packaging by 134.2% during the 1st quarter. Inspire Advisors LLC now owns 18,773 shares of the industrial products company's stock worth $487,000 after acquiring an additional 10,758 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Graphic Packaging by 7.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,850 shares of the industrial products company's stock worth $2,177,000 after acquiring an additional 5,941 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

Shares of NYSE:GPK traded down $0.87 on Friday, reaching $21.49. 5,163,142 shares of the company's stock were exchanged, compared to its average volume of 3,070,346. Graphic Packaging Holding Company has a fifty-two week low of $20.86 and a fifty-two week high of $30.70. The business's 50-day moving average is $22.11 and its two-hundred day moving average is $24.42. The company has a quick ratio of 0.73, a current ratio of 1.43 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 12.14 and a beta of 0.71.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.13 billion. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. As a group, equities research analysts forecast that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the industrial products company to buy up to 23.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 5th. Shareholders of record on Monday, September 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, September 15th. Graphic Packaging's dividend payout ratio (DPR) is presently 24.86%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Graphic Packaging from $24.00 to $23.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Bank of America reduced their price target on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Royal Bank Of Canada lowered their price objective on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Finally, UBS Group started coverage on Graphic Packaging in a research report on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 target price on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $26.38.

Graphic Packaging Company 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.