Graphic Packaging Holding Company (NYSE:GPK) Shares Sold by Persistent Asset Partners Ltd

Key Points

• Persistent Asset Partners Ltd sold 17,181 shares of Graphic Packaging Holding Company, reducing its stake by 65.7%, leaving it with 8,966 shares valued at approximately $233,000.
• Multiple large investors, including the Teacher Retirement System of Texas and State of Alaska Department of Revenue, have increased their holdings in Graphic Packaging, reflecting a growing institutional interest in the company.
• Graphic Packaging recently announced a quarterly dividend of $0.11 per share and initiated a $1.50 billion stock repurchase program, reflecting management's belief that the stock is undervalued.

Persistent Asset Partners Ltd lowered its position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 65.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,966 shares of the industrial products company's stock after selling 17,181 shares during the period. Persistent Asset Partners Ltd's holdings in Graphic Packaging were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its stake in Graphic Packaging by 75.3% in the first quarter. Teacher Retirement System of Texas now owns 50,534 shares of the industrial products company's stock worth $1,312,000 after purchasing an additional 21,708 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Graphic Packaging by 3.1% during the first quarter. New York State Teachers Retirement System now owns 221,927 shares of the industrial products company's stock valued at $5,761,000 after buying an additional 6,623 shares during the period. State of Alaska Department of Revenue increased its holdings in Graphic Packaging by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 35,155 shares of the industrial products company's stock valued at $912,000 after buying an additional 935 shares during the period. Wells Fargo & Company MN increased its holdings in Graphic Packaging by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 194,467 shares of the industrial products company's stock valued at $5,282,000 after buying an additional 608 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Graphic Packaging by 23.3% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 98,889 shares of the industrial products company's stock valued at $2,567,000 after buying an additional 18,668 shares during the period. Institutional investors own 99.67% of the company's stock.

Insider Activity at Graphic Packaging

In other news, Director Philip R. Martens sold 7,015 shares of Graphic Packaging stock in a transaction on Monday, August 4th. The shares were sold at an average price of $21.80, for a total transaction of $152,927.00. Following the completion of the sale, the director directly owned 26,811 shares in the company, valued at approximately $584,479.80. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.41% of the company's stock.

Graphic Packaging Stock Down 0.6%

NYSE GPK traded down $0.13 on Friday, hitting $22.50. The stock had a trading volume of 3,972,571 shares, compared to its average volume of 3,893,508. The business's fifty day moving average price is $22.13 and its 200 day moving average price is $24.02. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.43 and a quick ratio of 0.56. Graphic Packaging Holding Company has a 52-week low of $20.86 and a 52-week high of $30.70. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 7.69 and a beta of 0.73.

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 (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. Equities research analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.50 billion in 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 typically a sign that the company's management believes its stock is undervalued.

Graphic Packaging Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on GPK shares. Royal Bank Of Canada cut their price objective on shares of Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. Bank of America cut their price objective on shares of Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. UBS Group started coverage on shares of Graphic Packaging in a report on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Graphic Packaging from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Finally, BNP Paribas Exane lowered shares of Graphic Packaging from an "outperform" rating to a "neutral" rating in a report on Wednesday, June 25th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $26.38.

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.