M&T Bank Corp Has $1.45 Million Stake in Graphic Packaging Holding (NYSE:GPK)

M&T Bank Corp lowered its position in Graphic Packaging Holding (NYSE:GPK) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,116 shares of the industrial products company’s stock after selling 6,144 shares during the quarter. M&T Bank Corp’s holdings in Graphic Packaging were worth $1,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its stake in Graphic Packaging by 268.7% in the 2nd quarter. Hsbc Holdings PLC now owns 51,261 shares of the industrial products company’s stock valued at $1,350,000 after purchasing an additional 37,358 shares during the last quarter. XTX Topco Ltd bought a new stake in Graphic Packaging in the second quarter valued at approximately $928,000. Raymond James & Associates lifted its position in shares of Graphic Packaging by 23.9% in the third quarter. Raymond James & Associates now owns 707,969 shares of the industrial products company’s stock valued at $20,949,000 after buying an additional 136,342 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of 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. Finally, Wolverine Asset Management LLC bought a new position in shares of Graphic Packaging during the 2nd quarter worth approximately $524,000. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Trading Down 0.5 %

Shares of Graphic Packaging stock opened at $29.37 on Monday. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70. The stock has a market cap of $8.82 billion, a PE ratio of 12.55, a PEG ratio of 11.42 and a beta of 0.83. The firm has a 50-day moving average of $29.22 and a 200-day moving average of $28.57. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Graphic Packaging Holding will post 2.52 EPS for the current year.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. Graphic Packaging’s dividend payout ratio (DPR) is presently 17.09%.

Insider Buying and Selling at Graphic Packaging

In other news, CAO Charles D. Lischer sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 49,849 shares in the company, valued at approximately $1,478,022.85. The trade was a 19.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael James Farrell sold 25,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the sale, the executive vice president now directly owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. This trade represents a 24.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPK. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial cut shares of Graphic Packaging from a “buy” rating to a “hold” rating and cut their target price for the stock from $32.00 to $30.00 in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada decreased their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.53.

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.