Clear Harbor Asset Management LLC Reduces Position in Graphic Packaging Holding (NYSE:GPK)

Clear Harbor Asset Management LLC trimmed its stake in Graphic Packaging Holding (NYSE:GPK) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,565 shares of the industrial products company’s stock after selling 540 shares during the period. Clear Harbor Asset Management LLC’s holdings in Graphic Packaging were worth $964,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale lifted its stake in shares of Graphic Packaging by 1.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 676,230 shares of the industrial products company’s stock worth $19,634,000 after buying an additional 6,423 shares during the period. Shayne & Jacobs LLC purchased a new position in Graphic Packaging in the 3rd quarter worth $216,000. Private Advisor Group LLC lifted its position in Graphic Packaging by 26.1% during the 3rd quarter. Private Advisor Group LLC now owns 27,575 shares of the industrial products company’s stock worth $816,000 after acquiring an additional 5,699 shares during the period. Sequoia Financial Advisors LLC grew its stake in Graphic Packaging by 1.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 95,216 shares of the industrial products company’s stock valued at $2,817,000 after purchasing an additional 1,820 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of Graphic Packaging in the third quarter valued at about $222,000. 99.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Graphic Packaging Stock Performance

Shares of GPK stock opened at $29.66 on Monday. The firm has a 50 day moving average of $29.37 and a two-hundred day moving average of $28.16. The stock has a market capitalization of $8.90 billion, a PE ratio of 12.68, a P/E/G ratio of 10.94 and a beta of 0.83. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Graphic Packaging Holding has a 52 week low of $20.69 and a 52 week high of $30.66.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, research analysts predict that Graphic Packaging Holding will post 2.65 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Investors of record on Sunday, September 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.35%. Graphic Packaging’s dividend payout ratio (DPR) is 17.09%.

Analysts Set New Price Targets

GPK has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Truist Financial dropped their price objective on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus began coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price for the company. Wells Fargo & Company increased their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Finally, Citigroup cut their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.87.

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.