Twinbeech Capital LP Sells 174,288 Shares of Graphic Packaging Holding (NYSE:GPK)

Twinbeech Capital LP cut its stake in Graphic Packaging Holding (NYSE:GPK - Free Report) by 82.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,648 shares of the industrial products company's stock after selling 174,288 shares during the quarter. Twinbeech Capital LP's holdings in Graphic Packaging were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GPK. Alliancebernstein L.P. raised its stake in shares of Graphic Packaging by 920.6% in the fourth quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company's stock worth $113,425,000 after purchasing an additional 3,767,011 shares during the last quarter. Norges Bank purchased a new stake in shares of Graphic Packaging during the fourth quarter valued at approximately $98,268,000. Marshall Wace LLP increased its position in shares of Graphic Packaging by 735.3% during the fourth quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company's stock valued at $66,456,000 after acquiring an additional 2,153,925 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Graphic Packaging by 11.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company's stock valued at $441,990,000 after purchasing an additional 1,702,764 shares during the period. Finally, Boston Trust Walden Corp bought a new position in Graphic Packaging during the fourth quarter valued at $34,131,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Price Performance

Graphic Packaging stock traded down $0.00 during midday trading on Friday, hitting $22.62. 3,175,577 shares of the company's stock were exchanged, compared to its average volume of 2,520,934. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. The stock has a 50-day moving average price of $24.31 and a two-hundred day moving average price of $26.53. Graphic Packaging Holding has a 52-week low of $20.86 and a 52-week high of $30.70. The company has a market cap of $6.83 billion, a P/E ratio of 10.47, a PEG ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its quarterly earnings results 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). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm earned $0.66 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 23.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, June 13th. Graphic Packaging's dividend payout ratio (DPR) is currently 21.46%.

Analyst Upgrades and Downgrades

GPK has been the subject of several research reports. Robert W. Baird reduced their price objective on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Raymond James reaffirmed an "outperform" rating and issued a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Truist Financial cut 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. Finally, Royal Bank of Canada cut 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

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.