Assetmark Inc. Has $206,000 Stock Position in Graphic Packaging Holding Company (NYSE:GPK)

Key Points

• Assetmark Inc. significantly reduced its stake in Graphic Packaging by 91.3%, now holding 7,946 shares valued at $206,000 after selling 83,835 shares in the first quarter.
• Several other institutional investors increased their positions, with Merit Financial Group and Elevation Point Wealth Partners raising their stakes by 6.4% and 4.1%, respectively.
• Graphic Packaging announced a quarterly dividend of $0.11 per share, resulting in a 2.0% dividend yield, alongside a share repurchase program authorizing up to $1.50 billion in buybacks, indicating strong confidence in their stock's value.

Assetmark Inc. decreased its position in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 91.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,946 shares of the industrial products company's stock after selling 83,835 shares during the quarter. Assetmark Inc.'s holdings in Graphic Packaging were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Wayfinding Financial LLC purchased a new position in Graphic Packaging in the first quarter valued at approximately $42,000. Mizuho Bank Ltd. acquired a new stake in Graphic Packaging in the fourth quarter valued at $43,000. UMB Bank n.a. lifted its holdings in Graphic Packaging by 42.3% in the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock valued at $55,000 after acquiring an additional 632 shares during the period. Park Square Financial Group LLC acquired a new stake in Graphic Packaging in the fourth quarter valued at $79,000. Finally, Signaturefd LLC lifted its holdings in Graphic Packaging by 554.5% in the first quarter. Signaturefd LLC now owns 3,639 shares of the industrial products company's stock valued at $94,000 after acquiring an additional 3,083 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GPK. Truist Financial dropped their price target on Graphic Packaging from $24.00 to $23.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Royal Bank Of Canada reduced their price target on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company boosted their price target on Graphic Packaging from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Finally, Bank of America dropped their price target on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.38.

Graphic Packaging Price Performance

Shares of Graphic Packaging stock traded up $0.48 during midday trading on Monday, hitting $21.96. 2,105,050 shares of the company were exchanged, compared to its average volume of 3,063,735. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.43 and a quick ratio of 0.56. The firm has a market cap of $6.51 billion, a P/E ratio of 12.41, a PEG ratio of 7.27 and a beta of 0.73. Graphic Packaging Holding Company has a 52 week low of $20.86 and a 52 week high of $30.70. The firm has a 50 day simple moving average of $22.09 and a 200-day simple moving average of $24.34.

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

Graphic Packaging Announces Dividend

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

Graphic Packaging announced that its board has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 23.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.