Graphic Packaging Holding (NYSE:GPK) Position Cut by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 612,884 shares of the industrial products company's stock after selling 22,308 shares during the period. Nuveen Asset Management LLC owned approximately 0.20% of Graphic Packaging worth $16,646,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GPK. Synergy Asset Management LLC boosted its position in shares of Graphic Packaging by 108.6% in the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company's stock worth $1,810,000 after buying an additional 33,493 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Graphic Packaging by 8.0% in 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 during the period. Wells Fargo & Company MN boosted its position in shares of Graphic Packaging by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 194,467 shares of the industrial products company's stock worth $5,282,000 after buying an additional 608 shares during the period. Advocate Group LLC boosted its position in shares of Graphic Packaging by 14.5% in the fourth quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company's stock worth $6,149,000 after buying an additional 28,703 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Graphic Packaging by 9.0% in the fourth quarter. Victory Capital Management Inc. now owns 836,357 shares of the industrial products company's stock worth $22,715,000 after buying an additional 68,956 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Stock Up 1.5%

NYSE GPK traded up $0.35 on Tuesday, hitting $22.94. 3,081,750 shares of the stock traded hands, compared to its average volume of 2,523,177. The stock has a 50-day moving average of $24.25 and a 200 day moving average of $26.47. Graphic Packaging Holding has a twelve month low of $20.86 and a twelve month high of $30.70. The company has a market capitalization of $6.92 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The company's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 5th. Stockholders of record on Sunday, June 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, June 13th. Graphic Packaging's payout ratio is 21.46%.

Graphic Packaging announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GPK shares. Raymond James reaffirmed an "outperform" rating and issued a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Robert W. Baird reduced their price target on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada reduced their price target on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Truist Financial reduced their price target on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

About Graphic Packaging

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.